Wuxi Shangji Automation Co., Ltd. announced a private placement of not more than 82,567,786 A shares for gross proceeds of no more than CNY 6,000,000,000 on April 21, 2022. The company will issue shares at a price of not lower than 80% of the median market price of the company's shares as of 20 previous days to issuance date. The transaction will include participation from no more than 35 specific investors.

The transaction has been approved by the board of directors of the company at its 44th meeting of the 3rd directorate of the company. The transaction is subject to approval from company's shareholders meeting and China Securities Regulatory Commission. The shares issued are subject to a hold period of 6 months from the date of issuance.

The shares subscribed by the controlling shareholder, the actual controller and the enterprises under their control through this issuance shall not be transferred within 18 months from the date of the end of the issuance. The transaction will be valid for 12 months since approval from the shareholders' meeting of the company.