Shanghai, December 10, 2024 /PRNewswire/ -- Shanghai Jinxin Network Technology Co., Ltd. (NASDAQ code: NAMI) (hereinafter referred to as "the company" or "Jinxin"), a chinese innovative digital content provider, announced it has completed the delivery of its initial public offering of 1,250,000 American Depository Shares ("ADS"), with an issuance price of $4.00 per ADS. Each ADS represents 18 shares of common stock of the company. The company's ADS began public trading on the Nasdaq capital markets on December 6, 2024, Eastern Time in the USA, with the stock code "NAMI."

Before deducting underwriting discounts and related expenses, the total fundraising amount from this issuance is expected to be $5 million. In addition, the company has granted the underwriters a 60-day over-allotment option, allowing them to purchase up to an additional 187,500 ADS at the public offering price (less underwriting discount commissions).

The funds raised from this issuance will be used for the following purposes: (1) product and content development; (2) sales and marketing as well as brand promotion; (3) hiring experienced talent; and (4) general corporate purposes and potential strategic investments and mergers and acquisitions to further enhance the company's technology capabilities and overall ecosystem.

The representatives of the underwriters for this issuance are Craft Capital Management LLC and Weipeng Capital, with R. F. Lafferty & Co., Inc. also participating in the underwriting work (collectively referred to as "the underwriters"). K&L Gates LLP serves as the issuer's legal counsel, and Hogan Lovells US LLP serves as the underwriters' legal counsel.

The application registration forms related to this issuance (filing numbers: 333-273884 and 333-278897) have been submitted to the usa Securities and Exchange Commission ("SEC"), and will become effective on September 30, 2024, eastern time in the usa. This issuance is conducted solely through the prospectus. A copy of the final prospectus regarding this issuance can be obtained as follows: Craft Capital Management LLC, located at: 377 Oak St, Lower Concourse, Garden City, NY 11530, email: info@craftcm.com, phone: +1 800-550-8411; or Wei Peng Capital, located at: 1800 Century Park East, Suite 220, Los Angeles, CA 90067, email: jstern@wpcapital.com, phone: +1-310-843-9300; or R.F. Lafferty & Co., Inc., located at: 40 Wall Street, 27th Floor, New York, NY 10005, email: info@rflafferty.com, phone: +1-212-293-9090. Additionally, an electronic copy of the prospectus regarding the issuance can also be obtained from the SEC website (www.sec.gov).

This press release does not constitute a sales offer or purchase invitation; if any state or jurisdiction's securities law stipulates that such offers, invitations, or sales made prior to registration or qualification are illegal, such securities cannot be sold in those states or jurisdictions.

About Shanghai Jin Xin Network Technology Co., Ltd.

Jin Xin Technology Holding Company is headquartered in shanghai, china, and is an innovative digital content provider. Leveraging advanced AI, AR, VR, and digital human technologies, and through its own platforms and content distribution channels with partners, it is dedicated to delivering high-quality digital content services to users. According to a market report published by Frost & Sullivan, in 2022, Jin Xin was the largest digital textbook platform in china by revenue scale, with a market share of 12.7%. The company currently primarily targets K-9 grade students in china, focusing on providing them with digital and comprehensive education content, and plans to further expand services to offer high-quality and engaging digital content to users of other age groups. The company collaborates with leading textbook publishers in china to provide digital versions of mainstream textbooks, helping elementary and junior high school students learn better. The company utilizes AI-generated content technology to provide an interactive, intelligent, and entertaining learning experience. Key content distribution channels include: (1) the company's flagship learning app Namibox; (2) telecom and broadcasting operators; and (3) third-party devices that incorporate the company's content. For more information, please visit the company website:.

Forward-looking statements

This press release contains forward-looking statements that involve known and unknown risks and uncertainties, based on the company's expectations and predictions regarding future events. The company believes these events may affect its financial condition, operating performance, business strategy, and financial needs. Investors can identify many (but not all) forward-looking statements through words such as "may", "will", "expect", "plan", "goal", "estimate", "intend", "believe", and "possibly" in the prospectus. Except as required by law, the company has no obligation to publicly update or revise any forward-looking statements to reflect subsequent events or circumstances, or changes in the company's expectations. While the company believes the expectations in these forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. The company reminds investors that actual results may differ materially from those expected and recommends that investors review the registration statements and other documents the company has filed with the SEC for other factors that may affect the company's future results.

For more details, please inquire:

Shanghai Jinxin Network Technology Co., Ltd.

Investor Relations Department
Email: ir@namibox.com

Ascent Investor Relations Company

Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com