Shenzhen Sunyes Electronic Manufacturing Holding Co., Ltd. announced that it has entered into agreement for a private placement of not more than 152,262,000 A shares at an issue price of CNY 6.18 per share for proceeds of CNY 940,979,160 on February 17, 2023. The transaction will include participation from Shanghai Lita Technology Co., Ltd for 50,754,000 shares for 7.69% stake and Ningbo Biaosui Technology Co., Ltd for 101,508,000 shares for 15.38% stake. The shares cannot be transferred within 18 months from the issuance closing date.

The transaction was approved by the board of directors of the company 2nd Extraordinary Meeting of the 6th Directorate and the 2nd Extraordinary Meeting of the 6th Supervisory Board is subject to the approvals of the Company's Shareholders and the China Securities Regulatory Commission.