Jiangsu Yoke Technology Co., Ltd. announced a private placement of not more than 50,000,000 A shares for gross proceeds of not more than CNY 1,200,000,000 on September 11, 2020. The transaction will include participation from not more than 35 specific investors. The transaction is valid for 12 months from the date of approval by the company's shareholders' meeting.

The shares subscribed in the transaction shall not be listed for trading within six months from the issuance date. The transaction was approved at the third meeting of the fifth directorate of the company. The transaction is subject to the approval of the shareholders of the company and approval of the China Securities Regulatory Commission.