Kunshan GuoLi Electronic Technology Co., Ltd. announced a private placement of A shares at a price of CNY 1 per share for the gross proceeds of not more than CNY 300,000,000 on April 6, 2023. The transaction will include participation from no more than 35 investors. The shares subscribed by the issuer shall not be transferred within six months from the date of the end of the issue. The issue price of this issue shall not be lower than 80% of the average stock trading price in the 20 trading days prior to the pricing base date.

The transaction has been approved by the board of director's of the company in the second meeting of the third board of directors.