The actual controller of Lizhong Group participated in the RMB 1.047 billion private placement of Wencan Shares

The Wencan shares private placement project in which the actual controller of Lizhong Group participated has successfully raised 1.047 billion yuan to increase production capacity in Anhui, Foshan and Chongqing. This private placement attracted many well-known investment institutions, including Huatai Asset Management, Yimi Fund, etc., as well as overseas investor UBS Group. Lizhong Group is the upstream supplier of Wencan Group's integrated die-casting business, and the two parties signed a cooperation agreement on July 13.