QuantumCTek Co., Ltd. announced that it has entered into a Share Subscription and Strategic Cooperation Agreement to issue 24,112,311 A shares at a price of CNY 78.94 per share for the gross proceeds of CNY 1,903,425,830.34 on March 11, 2024. The transaction will include participation from returning investor China Telecom Quantum Information Technology Group Co., Ltd. The transaction has been approved in the sixth meeting of the eighth board of directors, the fifth meeting of the eighth board of supervisors, the fifth meeting of the audit committee of the eighth board of directors, at the 33rd meeting of the company?s 3rd board of directors and the 31st meeting of the 3rd board of supervisors and the first special meeting of independent directors in 2024 and is subject to approval of shareholders meeting, the Bureau of National Defense Science and Technology, the State-Owned Assets Supervision and Administration Department, the Shanghai Stock Exchange and the China Securities Regulatory Commission. The shares are not transferable within 36 months from the end of issuance.