Anhui Tongfeng Electronics Company Limited announced a private placement that it has entered into Share Subscription Agreement for a private placement of not more than 169,310,869 A Shares for gross proceeds of not more than CNY 400,000,000 on August 30, 2022. The transaction included participation from 35 investors including returning investor Tongling Dajiang Investment Holdings Co., Ltd. who will subscribe to not less than 20% of the issuance and hold not more than 30% stake after the issuance. The shares subscribed by Tongling Dajiang Investment Holdings Co., Ltd. cannot be transferred within 18 months from the issuance closing date and the shares of the other investors cannot be transferred within 6 months from the issuance closing date.

The transaction got approved by Board of directors of company on 13th Meeting of the 9th Directorate and the 11th Meeting of the 9th Supervisory Board. and is still subject to the approvals of the Authorized State-owned Assets, the Company's Shareholders, and the China Securities Regulatory Commission. The pricing base date of this offering is the first day of the issue period, and the issue price 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.