On April 28, the China Securities Regulatory Commission (CSRC) approved Jinan Shengquan Group Co., LTD. 's application report on the private placement of shares. In accordance with the Company Law, Securities Law and Measures for Supervision and Administration of Non-Listed Public Companies (Order No. 96 of China Securities Regulatory Commission) and other relevant provisions, Jinan Shengquan Group Co., Ltd. is approved to issue no more than 64.37 million new shares after examination and verification, and the approval is valid within 12 months from the date of approval.