Shijiazhuang Tonhe Electronics Technologies Co., Ltd. announced a private placement to issue not more than 52,212,374 A Shares at an issue price of not less than 80% of the average price in the 20 trading days before the pricing reference date for the gross proceeds of not more than CNY 750,000,000 on December 15, 2023. The shares cannot be transferred within 6 months from the issuance closing date. This has been approved in the 20th Meeting of the Company?s 4th Directorate, and is subject to the approvals of the Company?s Shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.

The transaction will include participation from not more than 35 investors.