Shenzhen H&T Intelligent Control Co., Ltd. announced that it has entered into subscription agreement for a private placement of 46,695,402 A shares at CNY 13.92 per share for gross proceeds of CNY 650,000,000 on August 2, 2022. The transaction will include participation from an individual investor Liu Jianwei. The securities issued are subject to hold period of 18 months from the date of issuance.

The transaction has been approved by the board of directors of the company at its thirty-second meeting of the fifth board of directors of the company. The transaction is subject to shareholders' approval at its 4th extraordinary general meeting of 2022 and the China Securities Regulatory Commission approval.