Suzhou Cheersson Precision Metal Forming Co., Ltd. announced a private placement of common shares for the gross proceeds of not more than CNY 300,000,000 on April 10, 2024. The transaction has been approved by the shareholders of the company in the second meeting of the third board of director. The number of shares to be issued shall be determined by dividing the total amount of funds raised by the issuance price and shall not exceed 30% of the total share capital of the company before issuance.

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.