Zhuzhou Times New Material Technology Co., Ltd. announced a private placement of 247,361,446 A shares for the gross proceeds of CNY 1,300,000,000 on December 26, 2023. The transaction will include participation from new investor CRRC Corporation Limited and other 34 investors. The transaction has been approved by the 30th (Extraordinary) Meeting of the Company?s 9th Directorate and the 22nd (Extraordinary) Meeting of the 9th Supervisory Board, and is subject to the approvals of the Company?s Shareholders, the State-owned Assets Supervision and Administration Commission or its authorized unit, the Shanghai Stock Exchange, and the China Securities Regulatory Commission.

CRRC Corporation Limited will invest CNY 661,310,000.