Fujian Nebula Electronics Co., Ltd. announced a private placement of not more than 44,335,168 A shares for gross proceeds of not more than CNY 1,200,000,000 on April 14, 2023. The transaction will include participation from not more than 35 investors. The issuance is adopting the bidding method, and the pricing base date of this issuance is the first day of the issuance period.

The issue price shall not be lower than 80% of the average trading price of the company's stock in the 20 trading days prior to the pricing base date. After the completion of this issuance, the shares subscribed shall not be transferred within 6 months from the date of completion of the issuance. The transaction has been approved at the twenty-fifth meeting of the third board of directors but still needs to be reviewed and approved by the general meeting of shareholders, Shenzhen Stock Exchange and the China Securities Regulatory Commission for registration.