Guangdong Guanghua Sci-Tech Co., Ltd. announced a private placement of not more than 78,672,148 shares of class A with a par value of CNY 1 per share for gross proceeds of not more than CNY 1,250,000,000 on November 30, 2021. The transaction will include participation from not more than 35 special investors. The shares shall be issued at a price not less than 80% of the average price of the company's stocks 20 trading days before the first day of the issue period.

The shares to be issued shall have a lock up period of 6 months from the closing of the transaction. The transaction has been approved at the 21st session of the company's fourth board of directors and still needs to be approved by the shareholders meeting and the China Securities Regulatory Commission.