On August 17, Siling Zhiqu made an announcement revealing its intention to garner funds not exceeding 1.8 billion yuan through a private share placement targeted at a select group of no more than 35 investors. Following the deduction of issuance costs, the majority of the proceeds, amounting to 1.5 billion yuan, will be earmarked for the development of a state-of-the-art intelligent manufacturing production base dedicated to the production of auto parts and robot components. The remaining 300 million yuan will be allocated to bolster the company's working capital. It is important to note that this share issuance initiative is contingent upon obtaining necessary approvals, including endorsement from the shareholders' meeting, a review by the Shenzhen Stock Exchange, and registration clearance from the China Securities Regulatory Commission.