Jiangsu Smartwin Electronics Technology Co.,Ltd. announced a private placement of common shares at an issue price of CNY 38.53 per share, which is not less than 80% of the average stock price in the 20 trading days before the pricing base date on October 24, 2023. The transaction will include participation from not more than 35 qualified specific investors including individual investors Xu Suozhang, Yao Weifang, Xu Yimeng and other investor Danyang Jingyizhicheng Technology Partnership (Limited Partnership). The transaction has been approved in the 17th meeting of the third board of directors and 14th meeting of the third supervisory board and at the partner meeting of Danyang Jingyi Zhicheng Technology Partnership (Limited Partnership and by the Shenzhen Stock Exchange and is subject to approval of China Securities Regulatory Commission.

The shares may not be transferred or pledged within 36 months from the completion date of the issuance of the shares. The number of shares to be issued shall not exceed 30% of the company's total share capital before the reorganization, and the total amount of supporting funds raised shall not exceed 100% of the transaction price of assets purchased by issuing shares.