Zhejiang Zhaolong Interconnect Technology Co.,Ltd. announced a private placement of not more than 77,450,864 A shares for gross proceeds of not more than CNY 1,213,900,000 on November 22, 2023. The transaction will include participation from not more than 35 investors. The shares cannot be transferred within 6 months from the issuance closing date.

The transaction has been approved in the 21st meeting of the company?s 2nd directorate, and is subject to the approvals of the company?s shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission. The transaction has been approved by the shareholders of the company in the 21st meeting of the 2nd directorate and the 19th meeting of the 2nd supervisory board.