Dongguan Golden Sun Abrasives Co.,Ltd announced a private placement of to issue A shares at an issue price of not less than 80% of the average trading price of the company?s stock in the 20 trading days before the pricing base date for the gross proceeds of CNY 460,829,900 on February 29, 2024. The transaction will include participation from not exceeding 35 specific investors. The securities are not transferable within 6 months from the end of issuance.

The transaction has been approved in the 17th meeting of the company's 4th board of directors and the 15th meeting of the 4th board of supervisors and is still needs to be reviewed and approved by the company's shareholders' meeting, reviewed and approved by the Shenzhen Stock Exchange, and made a registration decision by the China Securities Regulatory Commission.