Estun Automation Co., Ltd announced a private placement of 252,079,288 A shares for gross proceeds of up to CNY 800,000,000 on January 15, 2021. The shares will be issued not less than 80% of the average price in the 20 trading days before the pricing reference date. The transaction will include participation from not more than 35 investors.

The shares cannot be transferred within 6 months from the issuance closing date. The transaction has been approved in the 8th Meeting of the Company's 4th Directorate, and is subject to the approvals of the Company's Shareholders and the China Securities Regulatory Commission.