Toyou Feiji Electronics Co., Ltd. announced a private placement of A shares for gross proceeds of up to CNY 430 million on September 6, 2021. The transaction will include participation from no more than 35 investors. The transaction has been approved at the 21st meeting of the fourth board of directors of the company. The transaction still needs to be reviewed and approved by the company's shareholders meeting, by the Shenzhen Stock Exchange, and the China Securities Regulatory Commission. The shares shall not be transferred within six months from the end of the issuance.