Olympic Circuit Technology Co., Ltd announced a private placement of A Shares to issue not more than 159,674,775 shares for an aggregate gross proceeds of not more than CNY 1,793,056,500 on August 4, 2022. 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 at the 2nd Meeting of the company's 4th Directorate and 2nd Meeting of the 4th Supervisory Board. The transaction is still subject to approval from company's Shareholders and the China Securities Regulatory Commission.

On October 13, 2022, the company announced that the application for non-public issuance of shares has been accepted by China Securities Regulatory Commission. The company received "CSRC Administrative License Application Acceptance Form" (Acceptance No.: 222427 ) issued by the China Securities Regulatory Commission. The transaction still needs to be approved by the China Securities Regulatory Commission.

On December 9, 2022, the compamy announced that the CITIC Securities Company Limited is involved as issuer's sponsor in non-public offering of shares.