ROFS MICROSYSTEM (TIANJIN) Co., Ltd. announced that it has entered into an equity investment agreement for a private placement of common shares for gross proceeds of CNY 4.4 million on July 15, 2020. The transaction will include participation from new investor Tianjin Jingwei Huikai Optoelectronic Co., Ltd. (SZSE:300120). The transaction has been reviewed and approved at the 33rd meeting of the fourth board of directors of the investor and still needs to be submitted to the general meeting of shareholders. Upon completion. the investor will own 0.4% of target's equity. The transaction will be completed in tranches. The company will receive CNY 2.2 million in its first tranche within 3 working days and the remaining 50% shall be paid, which is CNY 2.2 million within 3 working days after target completes the change of industrial and commercial registration of the equity.