Guoguang Electric Company Limited announced a private placement of 140,515,173 A shares at an issue price of not lower than 80% of the average trading price of the company's stock in the 20 trading days prior to the pricing base date for the gross proceeds of not exceeding CNY 1,384,098,600 on March 3, 2023. The transaction will include participation from not more than 35 investors. The transaction has been approved in the seventeenth meeting of the tenth board of directors and the eleventh meeting of the tenth board of supervisors and is subject to approval of the Shenzhen Stock Exchange and the China Securities Regulatory Commission.

The shares shall not be transferred within 6 months from the date of the end of this issuance.