Topband (Hong Kong) Co., Ltd. announced that a private placement to issue common shares for gross proceeds of no more than CNY 389,136,000 on August 17, 2021. The transaction will include participation from returning investor, Shenzhen Topband Co., Ltd. The pre-registered capital of the company is CNY 129,029,750. The transaction has been reviewed and approved at the 12th meeting of the 7th board of directors of the company and does not need to be submitted to the general meeting of shareholders for deliberation.