Shen Zhen Australis Electronic Technology Co.,Ltd. announced a private placement of A shares for gross proceeds of no more than CNY 740,080,000 on May 10, 2022. The company will issue shares at a price of not lower than 80% of the median market price of the company's shares as of 20 previous days to issuance date. The transaction will include participation from no more than 35 specific investors.

The transaction has been approved by the board of directors of the company at its the eighth meeting of the second board of directors of the company. The transaction is subject to approval from company's shareholders meeting, Shenzhen Stock Exchange and China Securities Regulatory Commission. The shares issued are subject to a hold period of 6 months from the date of issuance.