Shenzhen KSTAR Science and Technology Co., Ltd. announced a private placement of not more than 88,046,114 A shares for gross proceeds of CNY 2,373,411,300 on June 30, 2023. The transaction will include participation from not more than 35 investors. The issue price should not less than 80% of the average price in the 20 trading days before the pricing reference date. The shares cannot be transferred within 6 months from the issuance closing date. The transaction has been approved in the 8th meeting of the company?s 6th directorate, and is subject to the approvals of the company?s shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.

On January 26, 2024, the company announced that the application for the issuance of the shares has been accepted by the Shenzhen Stock Exchange.