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On May 8th, Tongchun Baikun announced that the company intends to use its own funds of 10 million US dollars to subscribe for the warrants issued by the well-known technology company Moonshot AI Ltd (The Dark Side of the Moon), in order to acquire 450,000 shares of the company's D-round preferred stock. After the subscription is completed, the company will hold 0.11% of the equity of the target company. The company stated that this investment aims to share the long-term value enhancement brought by the growth by positioning itself in the cutting-edge technology field. This investment requires the completion of ODI procedures and there is a risk that it may not be approved by the government departments. This investment matter constitutes a related party transaction.
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