Wuhan Huazhong Numerical Control System, Inc. announced a private placement of not more than 59,609,071 A Shares for gross proceeds of not more than CNY 1000,000,000 on March 13, 2023. The transaction will include participation from no more than 35 specific investors including returning investor Zall Intelligent Manufacturing Group Co., Ltd. who will subscribe to 30-40% of the issuance. The company has signed share subscription agreement with investors in the transaction.

The Issue price is not less than 80% of the average price in the 20 trading days before the pricing reference date. The shares subscribes by Zall Intelligent Manufacturing Group Co., Ltd. cannot be transferred within 18 months and shares subscribes by the other investors cannot be transferred within 6 months from the issuance closing date. The transaction has been approved in the 5th meeting of the company’s 12th directorate, and is subject to the approvals of the Company’s Shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.