Iflytek Co., Ltd. announced private placement of not less than 59,559,262 A shares and not more than 77,427,039 A shares at a price of CNY 33.58 per share for minimum gross proceeds of CNY 2,000,000,017.96 and maximum gross proceeds of CNY 2,599,999,969.62 on January 18, 2021. The transaction will include participation from existing investor Anhui Yanzhi Technology Co., Ltd. for 5,955,926 A shares for proceeds of CNY 199,999,995.08 and individual investor Liu Qingfeng for not less than 53,603,336 A shares and not more than 71,471,113 A shares for proceeds of not less than CNY 1,800,000,022.88 and not more than CNY 2,399,999,974.54. The shares ae subject to hold period of 18 months from issuance. The transaction was approved by the 9th meeting of 5th board of directors. The transaction is subject to approval of shareholders in its 1st extraordinary general meeting to be held on February 3, 2021, and the China Securities Regulatory Commission.