Leader Harmonious Drive Systems Co., Ltd. announced a private placement of not more than 50,575,014 common shares at a price of not less than 80% of the average price in the 20 trading days before the pricing reference date for the gross proceeds of not more than CNY 2,026,533,800 on November 15, 2022. The transaction has been approved by the shareholders at the 2nd special shareholders' meeting for 2022. The transaction will include participation from not more than 35 investors.