Ningbo Jifeng Auto Parts Co., Ltd. announced a private placement of not more than 335,035,925 A shares for gross proceeds of not more than CNY 1,810,000,000 on April 3, 2023. The transaction will include participation from not more than 35 investors. The shares cannot be transferred within 6 months from the issuance closing date.

The transaction has been approved at the twentieth meeting of the fourth board of directors and is subject to the approvals of the company's general meeting of shareholders, Shenzhen Stock Exchange and the China Securities Regulatory Commission.