Shenzhen Sunnypol Optoelectronics Co., Ltd. announced that it has entered into Share Subscription Agreement with returning investor Zhang Jianjun who holds 32,898,092 shares, 18.92% stake, and will increase his holdings to not more than 60,261,276 shares, 29.94% stake and private placement to issue 27,363,184 A shares at an issue price of CNY 18.09 per share for the gross proceeds of CNY 494,999,998.56 on March 8, 2024. The investor will subscribe for all the shares. The shares cannot be transferred within 18 months from the issuance closing date.

The transaction has been approved in the 2nd Meeting of 2024 of the Company?s 5th Directorate, and is subject to the approvals of the Company?s Shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.