Shaanxi Fenghuo Electronics Co., Ltd. announced a private placement to issue A shares on July 13, 2023. The number of shares issued shall not exceed 30% of the total share capital. The issue price is no less than 80% of the average price of the company's stock in the 20 trading days prior to the pricing base date.

The transaction will include participation from no more than 35 eligible specific objects. The shares subscribed by the specific targets of this fund raising shall not be transferred within 6 months from the date of completion of the issuance. The transaction has been approved by the thirteenth meeting of the ninth session of the board of directors and the 8th meeting of the 9th Board of Supervisors and is subject to formal plan by the competent state-owned assets supervision and administration department, reviewed and approved by the Shenzhen Stock Exchange and registered with the China Securities Regulatory Commission.