Zhejiang Jiemei Electronic And Technology Co., Ltd. announced that it has entered into a share subscription agreement to issue not more than 24,740,227 shares at a price of CNY 20.21 per share for gross proceeds of not more than CNY 499,999,988 on April 18, 2022. The transaction will include participation form returning individual investor Fang Junyun. The securities issued in the transaction will be subject to a hold period of 18 months from the date of issuance.

The transaction has been approved at the 23rd Meeting of the Company's 3rd Directorate and the 20th Meeting of the 3rd Supervisory Board and is subject to company's shareholder and China Securities Regulatory Commission.