AVIC Baosheng Offshore Engineering Cable Co., Ltd. announced a private placement of CNY 500,000,000 on December 13, 2021. The transaction will include participation from returning investors, Baosheng Science and Technology Innovation Co.,Ltd. (SHSE:600973) for CNY 350,000,000 and Changfei Optical Fiber & Cable Co., Ltd. for CNY 150,000,000. After capital increase, company's registered capital will increase by CNY 50,000,000 from CNY 100,000,000 to CNY 150,000,000.

The transaction has been approved at the Baosheng Science and Technology Innovation Co.,Ltd. (SHSE:600973)'s 26th meeting of the seventh board of directors. After capital increase, Baosheng Science and Technology Innovation Co.,Ltd. (SHSE:600973) will hold 70% stake and Changfei Optical Fiber & Cable Co., Ltd. will hold 30% stake.