Beijing BDStar Navigation Co., Ltd. announced a private placement of not more than CNY 1,135,000,000 on August 5, 2022. The total number of shares issued shall not exceed 30% of the total share capital of the company before issuance. The transaction will include participation from not more than 35 special investors.

The shares have par value of CNY 1 per share. All securities issued in the transaction have the lock-up period of 6 months. The transaction has been approved at the 19th meeting of the company's sixth board of directors, and it still needs to be reviewed and approved by the company's general meeting of shareholders, National Defense Science and Technology Industry Management Department, and the China Securities Regulatory Commission.