Kunshan Huguang Auto Harness Co.,Ltd. announced a private placement for the gross proceeds of CNY 703,000,000 on September 13, 2021. The company will issue A shares in the transaction. All the shares issued will be subscribed in cash.

The transaction will include subscribers of no more than 35 in number who meet the requirements of the China Securities Regulatory Commission. The shares subscribed by the target of this issuance shall not be transferred within six months from the end of the issuance. Post the completion of the issuance of A shares, the controlling shareholder and actual controller of the company will remain unchanged.

The transaction has been reviewed and approved at the fourth meeting of the second board of directors of the company and by the China Securities Regulatory Commission.