Jiangsu Yawei Machine Tool Co., Ltd. announced that it has signed share subscription agreement for a private placement of 111,344,602 shares at an issue price of CNY 7.12 per share for gross proceeds of CNY 792,773,600 on September 8, 2021. The transaction will include participation from CRRC Zhuzhou Investment Holding Co., Ltd. for 30,586,150 shares. The number of issued shares does not exceed 30% of the company's total share capital before the issuance.

All securities issued in the transaction have a hold period of 18 months. The transaction has been approved in the 20th meeting of the company's 5th directorate and the 8th meeting of the 4th supervisory board and is subject to the approvals of the company's shareholders, investor's superior authority, the SASAC, and the state market supervision and administration department's and the China Securities Regulatory Commission.