Shenzhen Sunline Tech Co., Ltd. announced a private placement of 300,000,000 A shares at an issue price of CNY 1 per share for gross proceeds of CNY 300,000,000 on April 25, 2022. The transaction will include participation from not more than 35 investors. The transaction was approved by the board of directors of the company at its 17th meeting of the fourth directorate and is subject to shareholders and China Securities Regulatory Commission.

The securities to be issued will have a hold period of 6 months from date of issuance.