Hollyland (China) Electronics Technology Corporation Limited announced a private placement of common shares on November 24, 2022. The transaction will involve participation from no more than 35 qualified investors. The transaction was approved by board of directors.

The transaction still need approval of CSRC and other necessary approvals or approvals required by relevant laws and regulations. The company entered into purchase agreement. The share issuance price for the raising of supporting funds this time shall not be lower than 80% of the average trading price of company in the 20 trading days prior to the pricing base date.

The number of issued shares does not exceed 30% of the company's total share capital before issuance, and the total amount of supporting funds raised shall not exceed 100% of the transaction price of assets purchased by issuing shares in this transaction. The shares subscribed through this issuance shall not be transferred within 6 months from the date of completion of the issuance.