Xi'an Bright Laser Technologies Co.,Ltd. announced a private placement to issue not more than 16,158,250 shares for an aggregate gross proceeds of not more than CNY 3,109,364,100 on August 29, 2022. The company shall issue shares at a price not less than 80% of the average price in the 20 trading days before the pricing reference date. The transaction will include participation from no more than 35 investors.

The shares to be issued shall have a hold period of 6 months from closing of the transaction. The transaction has been approved at the 18th meeting of the second board of directors of 2022 and 12th session of the company's 2nd supervisory board. The transaction is still subject to approval from shareholders of the company and Shenzhen Stock Exchange and the China Securities Regulatory Commission.