Zhuzhou Huarui Precision Cutting Tools Co.,Ltd. announced a private placement of not more than 4,435,573 A shares at a price of CNY 45.09 per share for gross proceeds of not more than CNY 199,999,987 on February 23, 2024. The transaction will include participation from new investor Xiao Xukai. The transaction has been approved at the 32nd meeting of the company?s second board of directors.

The transaction still needs to be approved by the company's shareholders' meeting, by the Shanghai Stock Exchange, and by the China Securities Regulatory Commission. The shares to be issued shall not be transferred within 36 months from the date of completion of this issuance.