Anhui Great Wall Military Industry Co., Ltd. announced a private placement of not more than 108,634,260 shares for gross proceeds of not more than CNY 600 million to CNY 800 million on July 26, 2021. The transaction is subject to approval from China Securities Regulatory Commission as well as the state-owned assets supervision and management agency or the state-funded enterprise, and State Administration of Science and Technology for National Defense, the board of directors or its authorized persons in accordance with the authorization of the company's shareholders meeting. The transaction will include participation from not more than 35 investors, including returning investor Anhui Military Industry Group Holding Co.,Ltd who holds a total of 58.89% stake in the company.