Shenzhen Center Power Tech. Co., Ltd announced a private placement to issue not more than 115,264,473 shares for aggregate gross proceeds of not more than CNY 1,224,021,700 on July 28, 2023. The company shall 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 no more than 35 investors. The shares to be issued shall have a hold period of 6 months from closing of the transaction. The transaction has been approved at the 5th Meeting of 2023 of the company?s 5th Directorate.

The transaction is still subject to approval from company?s Shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.