Xiamen Changelight Co., Ltd. announced a private placement of not more than 212,000,000 A shares at a par value of CNY 1 per share for gross proceeds of up to CNY 1,500,000,000 on November 18, 2020. The issuance price of share is not less than 80% of the average price of the company's stocks 20 trading days before the first day of the issue period. The transaction will include participation from than 35 special investors.

All the securities issued shall be subject to hold period of 6 months from the issuance. The transaction is approved at the 29th meeting of the fourth board of director of the company. The transaction is subject to approval at the company's shareholders meeting, Shenzhen Stock Exchange, and from China Securities Regulatory Commission.

The resolution will remain valid of a period of 12 months from the date of deliberation and approval by the shareholders at the company's shareholder meeting.