Shenzhen WOTE Advanced Materials Co., Ltd announced a private placement of not more than 67,972,058 A shares for gross proceeds of not more than CNY 1,195,836,200 on August 30, 2022. The transaction will include participation from not more than 35 specific investors. The pricing base date of this non-public offering of shares is the first day of the issuance period.

The issuance price of this issuance shall not be lower than 80% of the company's average stock trading price in the 20 trading days prior to the pricing benchmark date (average stock trading price in the 20 trading days prior to the pricing benchmark date equal to total stock trading volume in the 20 trading days prior to the pricing benchmark date/pricing benchmark. The transaction has been reviewed and approved at the fourteenth meeting of the fourth session of the board of directors and still needs to be reviewed and approved by the company's general meeting of shareholders and China Securities Regulatory Commission. The shares shall not be transferred within six months from the date of the issue.