China Aerospace Times Electronics CO.,LTD. announced that it has entered into subscription agreement for placement of not more than 646,187,500 A shares for gross proceeds of not more than CNY 4,135,600,000 on December 10, 2021. The transaction will include participation from 35 investors including existing investor China Times Prospect Science & Technology Co., Ltd. for CNY 500,000,000. If China Times Prospect Science & Technology Co., Ltd. will hold more than 30% stake, the shares cannot be transferred within 36 months and if China Times Prospect Science & Technology Co., Ltd. holds not more than 30% stake, the shares cannot be transferred within 18 months.

The shares issued to other investors within 6 months from issuance. The transaction has been approved in the 8th meeting of 2021 of the company's 8th directorate and the 5th meeting of 2021 of the company's 8th supervisory board and is subject to approval from shareholders, the competent industry departments, the state-owned assets supervision authority, and the China Securities Regulatory Commission.