Changchun UP Optotech Co.,Ltd. announced a private placement of not more than CNY 255 million on March 21, 2022. The transaction will include participation from not more than 35 qualified specific investors. The total funds raised shall not exceed the transaction price of the assets purchased by issuing shares this time 100% of the company's total share capital, and the number of issued shares does not exceed 30% of the total share capital of the listed company before the transaction.

The shares are being issued in the transaction are subject to a restricted period for 6 months. The transaction was approved by board of directors at the thirteenth meeting of the seventh board of directors and subject to approval from shareholders, State-owned Assets Supervision and Administration Department, and China Securities Regulatory Commission.