Autel Intelligent Technology Corp., Ltd. announced a private placement to issue A Shares not more than 45,187,233 shares for an aggregate gross proceeds of not more than CNY 806,109,100 on March 8, 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. This has been approved in the 26th Meeting of the Company?s 3rd Directorate and is subject to the approvals of the Company?s Shareholders, the Shanghai Stock Exchange, and the China Securities Regulatory Commission.