AviChina Industry & Technology Company Limited announced that it has entered into the share subscription agreement for the private placement of 261,522,000 domestic shares at the subscription price of HKD 4.34 for gross proceeds of HKD 1,135,005,480 (CNY 999,998,848) on May 9, 2023. The transaction will include participation from existing investor, National Military and Civilian Integration Industry Investment Fund Co., Ltd., a fund managed by Huihua Fund Management Co., Ltd. The shares represent (i) approximately 17.43% of the total number of issued domestic shares of the company and approximately 3.39% of the total number of issued shares of the company as at the date of this announcement; and (ii) approximately 14.84% of the enlarged total number of issued domestic shares after the completion and approximately 3.28% of the enlarged total number of issued shares of the company after the completion. The company incurred issuance expenses and received the net proceeds of approximately HKD 1,13,28,41,144.89 (CNY 999,798,848).