Hunan Valin Wire & Cable Co.,Ltd. announced that it has entered into a purchase agreement to issue 160,327,200 A shares for the gross proceeds of up to CNY 1,214,900,000 on December 1, 2023. The company shall issue shares at a price not less than 80% of the average price in the 20 trading days before the pricing reference date. The transaction will include participation from no more than 35 investors.

The shares to be issued shall have a hold period of 6 months from closing of the transaction. The transaction has been approved by the shareholder's of the company in the 12th meeting of the company's fifth board of directors. The transaction is subjected to approval by the Shenzhen Stock Exchange and approved by the China Securities Regulatory Commission.