Optowide Technologies Co., Ltd. announced a private placement to issue not more than 38,805,000 A shares for the gross proceeds of CNY 485,000,000 on May 23, 2024. The transaction has been approved in 10th meeting of the 2nd board of supervisors. The company shall issue shares at a price not less than 80% of the average price in the 20 trading days before the pricing reference date.

The transaction will include participation from no more than 35 investors. The shares to be issued shall have a hold period of 6 months from closing of the transaction. The transaction has was approved by the shareholders of the company in 13th meeting of the 2nd board of directors, and is subject to approval of the Company?s shareholders?

meeting, Shanghai Stock Exchange and China Securities Regulatory Commission.