HNAC Technology Co., Ltd. announced that it will issue not more than 98,347,322 A Shares at a price of not less than 80% of the average price in the 20 trading days before the pricing reference date for gross proceeds of CNY 910,000,000 on May 13, 2022. The transaction has been approved at the 18th Meeting of the Company's 4th Directorate and is subject to approval from shareholders of the company, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission. All securities issued in the transaction will be subject to a hold period of 6 months from the closing date.