Shenzhen Das Intellitech Co., Ltd. announced a private placement of not more than 250,000,000 A shares at an issue price of CNY 2.8 per share for gross proceeds of not more than CNY 700,000,000 on May 31, 2022. The company will issue shares at a price not less than 80% of the average price in the 20 trading days before the pricing reference date. The transaction will include participation from not more than 35 investors.

The securities issued are subject to a hold period of 6 months from issuance. The transaction was approved at the 19th meeting of the company's 7th directorate, and is subject to the approvals of the company's shareholders, and the China Securities Regulatory Commission.