Fuxin Dare Automotive Parts Co., Ltd. announced a private placement of not more than 20,000,000 common shares for proceeds of not more than CNY 250,000,000 on May 27, 2022. The issue price shall not be lower than 80% of the average stock price of the company in the 20 trading days prior to the pricing benchmark date. The transaction will include participation from not more than 35 investors.

The shares issued will be subject to restriction period of 6 months from issuance. The transaction has been approved 8th meeting of the 4th board of directors of the company and is subject to approval from Shenzhen Stock Exchange and the China Securities Regulatory Commission.