Shijiazhuang Tonhe Electronics Technologies Co.,Ltd. announced a private placement of not more than 52,035,959 common shares for gross proceeds of up to CNY 620,000,000 on April 25, 2023. The transaction will include participation from not more than 35 investors. The issuance price of the shares shall not be lower than 80% of the average trading price of the company's shares in the 20 trading days prior to the pricing base date.

The transaction has been approved at the 13th meeting of the company's fourth board of directors, and is subject to the approval from the company's shareholders' meeting, the Shenzhen Stock Exchange and the China Securities Regulatory Commission. The securities have a hold period of six months from the date of completion of the issuance.