Suzhou TFC Star Technology Co., Ltd. announced a placement of common shares for gross proceeds of CNY 150 million on August 23, 2023. The transaction will include participation from returning investors, Suzhou TFC Optical Communication Co., Ltd. for CNY 80 million maintaining its stake of 53.330% and returning individual investor, Zou Zhinong for CNY 70 million maintaining his stake of 46.670%. The transaction has been approved at the 12th session of Suzhou TFC Optical Communication Co., Ltd.'s fourth directorate and the 12th session of the fourth supervisory board and is subject to approval of shareholders?

meeting. Through the transaction, the company's registered capital will increase from CNY 201 million to CNY 351 million.