Guangdong Champion Asia Electronics Co.,Ltd. announced that it will issue not more than 67,890,230 A shares for gross proceeds of not more than CNY 500,000,000 on May 29, 2020. The transaction will include participation from not more than 35 specific investors. The issue price will be not less than 80% of the transactional price of the company's shares as of 20 previous days to issuance date. All shares to be issued will be subject to a lock-up period of 6 months from the issuance date. The transaction has been approved in the 21st session of the 2nd directorate of the company, and is subject to the approval of its shareholders, and China Securities Regulatory Commission.