Jiangsu Meier Automotive Parts Co., Ltd announced that it will issue common shares for gross proceeds of CNY 30.8 million on March 3, 2023. The transaction will include participation from returning investor, Jiangsu New Technology Group Co.,Ltd. The transaction has been approved at the the twenty-fourth meeting of the second board of directors and the fifteenth meeting of the second board of supervisors. Out of the CNY 30.8 million, CNY 13.4 million will go to the registered capital and the rest CNY 17.4 million will go to capital reverse.