NSFOCUS Technologies Group Co., Ltd. announced a private placement of 239,575,323 A shares for gross proceeds of not more than CNY 1,200,000,000 on May 12, 2023. The transaction will include participation from not more than 35 investors. The securities have a hold period of 6 months from the date of completion of this issuance.

The transaction has been approved at the 18th meeting of the company's fourth board of directors and the 16th session of the company's 4th supervisory board. The transaction is subject to approval from the company's general meeting of shareholders, the Shenzhen Stock Exchange, and approved by the China Securities Regulatory Commission for registration.