Hunan Nanling Fire Technology Co., Ltd. announced that it will issue common shares for gross proceeds of CNY 14,113,075.92 on January 7, 2022. The transaction will include participation from new investor, Guoanda Co., Ltd. to acquire 35% stake in the company. The transaction proceeds out of which CNY 5,384,615 will be used as registered capital, and the excess part is included in the capital reserve.

The registered capital will increase from CNY 10,000,000 to CNY 15,384,615. The transaction is within the scope of the general manager's approval authority and does not need to be submitted to the company's board of directors and shareholders' meeting for consideration.