Dongguan Kingsun Optoelectronic Co.,Ltd. announced that it has entered into a security purchase agreement for the issuance of 451,847,000 shares at a price of CNY 1.52 per share for gross proceeds of CNY 686,807,440 on June 20, 2022. The transaction will include participation from new investor Dongguan Jingtengda Enterprise Management Partnership (Limited Partnership) for 23.08% stake and 25.13% of the total voting shares in the company. The transaction has been approved in the twenty-eighth meeting of the fifth board of directors and needs to be approved by the shareholders of the company in the general meeting and required approval from the China Securities Regulatory Commission.