Jiangsu Xinghong Technology Co., Ltd. announced that it will receive CNY 10,000,000 on June 11, 2023. The transaction will include participation from JiangSu Jinji Industrial Co.,Ltd. for CNY 10,000,000 for stake of 7.82%. The transaction is approved in issuer's 3rd directorate during its 9th meeting and 3rd supervisory board during its 7th meeting.

The transaction not need approval from shareholders and the concern authorities. The transaction is expected to close within 60 days.