CPT Technology (Group) Co.,Ltd announced a private placement of not more than 829,809,840 A shares at an issue price not less than 80% of the average price in the 20 trading days before the pricing reference date for gross proceeds of not more than CNY 2,800,000,000 on April 15, 2021. The transaction will include participation from not more than 35 specific investors including Fujian Electronics & Information (Group) Co.,Ltd with a subscription to not less than 10% of the issuance. The shares issued to Fujian Electronics & Information (Group) Co.,Ltd will have a lock-up period of 18 months while for other investors it will be 6 months from the issuance closing date. The transaction has been approved in the 32nd meeting of the company's 8th directorate, and is subject to the approvals of the shareholders at the general meeting and the China Securities Regulatory Commission. On April 22, 2021, the company announced that the transaction has been approved by the investor, Fujian Electronics & Information (Group) Co.,Ltd.