Henan Tong-Da Cable Co., Ltd. announced a private placement of not more than 158,585,901 A shares for proceeds of not more than CNY 650,000,000 on May 9, 2023. The transaction will include participation from not more than 35 investors. The issuance price is not less than 80% of the average price in the 20 trading days before the pricing reference date.

The shares cannot be transferred within 6 months from the issuance closing date. The transaction was approved by the board of directors of the company at its 15th Meeting of the Company’s 5th Directorate held and is subject to the approvals of the Company’s Shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.