Suzhou Harmontronics Automation Technology Co., Ltd announced a private placement of not more than 27,071,625 A shares for gross proceeds of not more than CNY 1,000,000,000 on April 25, 2022. The transaction will include participation from not more than 35 investors. The issuance price is not less than 80% of the average price in the 20 trading days before the pricing reference date.

The transaction was approved by the board of directors of the company at its 13th Meeting of the 2nd Directorate and is subject to the approvals of the Shanghai Stock Exchange and the China Securities Regulatory Commission. The shares to be issued will not be transferred within 6 months from the issuance closing date.