Shenzhen Deren Electronic Co., Ltd. announced a private placement of not more than 143,908,228 A shares for gross proceeds of not more than CNY 1,680,200,000 on March 30, 2020. The transaction will include participation from not more than 35 investors. All securities issued will be subject to a hold period of 6 months. The transaction has been approved by the board of directors in the 15th meeting of its 6th directorate and is subject to the approvals of the shareholders meeting and the China Securities Regulatory Commission.