Huizhou China Eagle Electronic Technology Inc. announced a private placement of not more than 120,000,000 A shares for gross proceeds of up to CNY 8,000,000,000 on July 26, 2023. The transaction will include participation from not more than 35 investors. The issue price will not be less than 80% of the average price in the 20 trading days before the pricing reference date.

The shares cannot be transferred within 6 months from the issuance closing date. The transaction has been approved in the 14th meeting of the company?s fifth directorate, and is subject to the approvals of the company?s shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.