SGSG Science&Technology Co., Ltd. Zhuhai announced that it has entered into a Share Subscription Agreement to issue not more than 46,337,646 A shares at a price of CNY 7.77 per share for the gross proceeds of CNY 360,043,509.42 on February 4, 2023. The transaction will include participation from Zibo High-tech State-owned Capital Investment Co., Ltd. The shares cannot be transferred within 18 months from the issuance closing date. The transaction has been approved in the 20th Meeting of the Company?s 4th Directorate and the 15th Meeting of the Company?s 4th Supervisory Board and is subject to the approvals of the Company?s Shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.