On June 10, Biwin Storage made an announcement stating that its wholly-owned subsidiary, Hainan Nanbaisuan, intends to allocate 20.8606 million yuan from its own funds towards the strategic investment in Zhenbao Technology's initial public offering (IPO) on the A-share Science and Technology Innovation Board. This investment will enable Hainan Nanbaisuan to acquire 468,100 shares, subject to a 12-month lock-up period.
