Baive Storage (688525.SH) intends to participate in the strategic placement of Zhenbao Technology with an allocated amount of 20.86 million yuan.

The Zhixun Finance APP reports that Baiwei Storage (688525.SH) has announced that its wholly-owned subsidiary, Hainan Nanbai Suan Technology Co., Ltd. (hereinafter referred to as "Hainan Nanbai Suan"), intends to use its own funds to subscribe to the initial public offering of Chongqing Zhenbao Technology Co., Ltd. (hereinafter referred to as "Zhenbao Technology") and to participate in the strategic investor allocation of RMB ordinary shares (A shares) to be listed on the Shanghai Stock Exchange Science and Technology Innovation Board. Hainan Nanbai Suan intends to be allocated 468,200 shares and receive RMB 20.86 million.