Shanghai Chuangli Group (603012.SH) is planning to raise up to 200 million yuan through a private placement to the controlling shareholder for the purpose of supplementing working capital.

Shanghai Chuangli Group (603012.SH) disclosed a plan to issue A-shares to specific entities. The entity purchasing the shares is Quanye (Hangzhou) Technology Co., Ltd., which will subscribe in cash. Quanye (Hangzhou) Technology Co., Ltd. is an enterprise controlled by Mr. Shi Liangxi, the actual controller of the company, making this issuance to specific entities a related party transaction. The number of shares to be issued shall not exceed 49.7512 million shares, at a price of 4.02 yuan per share, with a total fundraising amount of no more than 200 million yuan (including this amount). The net proceeds from the fundraising, after deducting relevant issuance expenses, will be used entirely to supplement working capital.