Guangdong Kingshine Electronic Technology Co.,Ltd. announced a private placement of not more than 51,701,308 A shares for gross proceeds of not more than CNY CNY 1,100,000,000 on June 26, 2021. The round will see participation from not more than 35 investors. The issue price is not less than 80% of the average price of the company's stock during the 20 trading days prior to the pricing base date. The shares cannot be transferred within 6 months from the issuance closing date. The transaction has been approved by the board of directors of the company at the 17th Meeting of the 1st directorate and the the 11th meeting of the 1st supervisory board and is subject to approval from shareholders of the company, the Shenzhen Stock Exchange and the China Securities Regulatory Commission.

On August 9, 2021, the company announced that the transaction has been accepted by Shenzhen Stock Exchange.

On September 28, 2021, the company announced that it has received opinion notification letter on its Private Placement Application issued by the Shenzhen Stock Exchange Listing Review Center.