Xi'an Triangle Defense Co.,Ltd announced a private placement of not more than 80,000,000 shares of class A for gross proceeds of not more than CNY 3,127,240,000 on February 21, 2022. The transaction will include participation from not more than 35 special investors. The company will issue shares at issue price of not less than 80% of the average price of the company's stocks 20 trading days before the first day of the issue period.

The transaction has been approved at the 28th meeting of the 2nd directorate of the company and is subject to approval from company's shareholders meeting, Shenzhen Stock Exchange and the China Securities Regulatory Commission. The shares to be issued are subject to hold period of 6 months. The resolution of this issuance is valid for 12 months from the date of deliberation and approval by the company's shareholders meeting.