Shenzhen Kaizhong Precision Technology Co., Ltd. announced a private placement to issue not more than 39,000,000 A shares at an issue price of not less than 80% of the average price in the 20 trading days before the pricing reference date for the gross proceeds of not more than CNY 280,000,000 on May 25, 2023. The transaction will include participation from nor more than 35 investors. The shares cannot be transferred within 6 months from the issuance closing date.

The transaction has been approved in the 2022 annual general shareholders meeting of the company.