Tecnon Electronics Co., Ltd. announced that it has signed Share Subscription Agreement with returning individual investor 48,238,860 A shares, 22.10% stake to issue 22,784,810 A shares at an issue price of CNY 7.90 per share for the gross proceeds of CNY 179,999,999 on March 22, 2024. The shares cannot be transferred within 18 months from the issuance closing date. At present, Zhuang Zhanlong holds 48,238,860 shares, 22.10% stake, and will increase his holdings to not more than 71,023,670 shares, 29.46% stake and has subscribed for all the shares.

The transaction has been approved in the 14th Meeting of the Company?s 4th Directorate and the 12th Meeting of the 4th Supervisory Board, and is subject to the approvals of the Company?s Shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.