Jiangsu Skyray Instrument Co., Ltd. announced a private placement of not more than 148,650,000 A shares at an issue price of CNY 4.20 per share, for gross proceeds of not more than CNY 624,330,000 on May 12, 2023. The transaction will include participation from new investor, Guangzhou Liduo Technology Partnership Enterprise (Limited Partnership) to hold 23.08% stake post completion of the transaction. The company has signed share subscription agreement with investor.

The shares cannot be transferred within 18 months from the issuance closing date. The transaction has been approved by the 15th (extraordinary) meeting of the company's 5th directorate and the 11th (extraordinary) meeting of the 5th supervisory board. The transaction is subjected to approval from the company's shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.