Daoshi Technology (300409.SZ) subsidiary plans to subscribe for $30 million in Quebrain Technology's Pre-B round preferred shares.

News from the Zhitong Finance and Economics APP, Daoshi Technology (300409.SZ) announced that its controlling subsidiary Hong Kong Jiana Co., Ltd. (referred to as "Hong Kong Jiana") recently signed a "Pre-B Round Preferred Stock Subscription Agreement" with the target company Qiangnao Technology and its subsidiary holding companies (collectively referred to as "Qiangnao Technology") and other related parties. The transaction will be completed after Qiangnao Technology's board of directors and specific shareholders approve it according to its articles of association. Hong Kong Jiana will use its own funds to subscribe for $30 million in Pre-B round preferred stock of the target company, thereby obtaining minority shareholder equity in the target company.