Sinomach Precision Industry Co.,Ltd. announced a private placement of not more than 28,365,000 A shares for proceeds of not more than CNY 283,650,000 on December 26, 2022. The transaction will include participation from not more than 35 investors. The shares will be subject to a hold period of 6 months.

The transaction has been reviewed and approved at the 19th meeting of the seventh board of directors of the company. The transaction is subject to approval from the company's shareholders' meeting, and China Securities Regulatory Commission.