Shenzhen JingQuanHua Electronics Co.,Ltd. announced that it will issue not more than 54,000,000 A shares for gross proceeds of not more than CNY 435,500,000 on August 16, 2022. The issue price is not less than 80% of the average price of the company's stocks 20 trading days before the first day of the issue period. The transaction will include not more than 35 investors.

The securities issued in the transaction will have a lock up period of 6 months. The resolution of this issuance is valid for 12 months from the date of deliberation and approval by the company's shareholders meeting. The transaction has been approved by board of directors at the fifth meeting of the fourth board of directors.

The transaction is still subject to approval from shareholders and China Securities Regulatory Commission.