Shanghai HIUV New Materials Co.,Ltd announced a private placement of not more than 25,206,000 shares for gross proceeds of not more than CNY 1,160,000,000 on August 17, 2022. The transaction will include participation from no more than 35 specific targets that meet the conditions stipulated by the China Securities Regulatory Commission, including securities investment fund management companies, securities companies, trust investment companies, financial companies, asset management companies, insurance institutional investors, and qualified foreign institutions. The issue price of stocks issued to specific objects this time is not lower than 80% of the average trading price of the company's stocks in the 20 trading days before the pricing benchmark date.

The pricing benchmark date is the first day of the issue period. The shares shall not exceed 30% of the share capital before the issuance. The final number of issuances will be determined by the board of directors of the company in consultation with the sponsor of the issuance according to the subscription quotation of the issuance object after the issuance is approved by the China Securities Regulatory Commission.

After the completion of this issuance, the restricted period for the shares subscribed by specific objects in this issuance shall comply with the administrative measures for the registration of securities Issuance of Companies Listed on the Science and Technology Innovation Board and regulatory authorities such as the China Securities Regulatory Commission and the Shanghai Stock Exchange. The shares subscribed by the issuers in this offering shall not be transferred within 6 months from the date of the end of the offering. Where laws and regulations have other provisions on the restricted period, such provisions shall prevail.

The transaction has been approved at the at the 25th meeting of the third board of directors of the company, and still needs to be reviewed and approved by the company's general meeting of shareholders, the Shanghai Stock Exchange and the China Securities Regulatory Commission.