Chengdu Yaguang Maiwei Technology Co., Ltd. announced that it will issue 190,646,200 shares at a price of CNY 1 per share for gross proceeds of CNY 190,646,200 on April 25, 2022. The transaction will include participation from returning investor Yaguang Technology Group Co., Ltd. for CNY 46,258,500 and new investor Hunan Construction Engineering Group Corporation for CNY 144,387,700?. Post completion of the transaction, the capital of the company will increase from CNY 50,000,000 to CNY 240,646,200?.

The transaction has been approved by the board of directors of Yaguang Technology Group Co., Ltd. in the 33rd meeting of the fourth board of directors and is subject to its general meeting of shareholders for deliberation. Post-closing Yaguang Technology Group Co., Ltd.'s stake will decrease from 100% to 40% and Hunan Construction Engineering Group Corporation will hold 60% stake in the company.