Alton Industry Ltd. Group announced a placement of common shares for gross proceeds of $65,000,000 on September 21, 2023. The transaction will include participation from returning investor, Suzhou Alton Electrical & Mechanical Industry Co., Ltd. Through the transaction, the company's registered capital will increase from $4,701,000 to $69,701,000. The transaction has been approved at the 6th meeting of the 3rd board of directors and the 5th meeting of the 3rd board of supervisors and needs to be submitted to the shareholders' meeting for review.