Zhongshan Union Automobile Technology Co., Ltd. announced a private placement for the gross proceeds of CNY 70 million in a round of funding on August 15, 2022. The transaction will include participation form returning investor Union Optech Co.,Ltd., retains 100% stake in the company. The company has issued common shares in the transaction.

The transaction has been approved by the 9th session of the company's 3rd directorate of the company.