Zhejiang Tiancheng Controls Co., Ltd. announced a private placement of A shares, par value CNY 1 per share at a price of not less than 80% of the average price of the company?s stock in the twenty trading days before the pricing base date for the gross proceeds of CNY 182,000,000 on April 28, 2023. The shares issued will be not more than 30% of the company?s total share capital before this issuance. The transaction will include participation from not more than 35 investors.

The transaction has ben approved the 18th meeting of the company's fourth board of directors. The shares subscribed shall not be transferred within 6 months from the date of completion of the issuance.