Brother Enterprises Holding Co.,Ltd. announced that it will issue A shares in a private placement for gross proceeds of up to CNY 800,000,000 on February 15, 2023. The company shall issue shares at a price not less than 80% of the average price in the 20 trading days before the pricing reference date. The transaction will include participation from no more than 35 investors.

The shares to be issued shall have a hold period of 6 months from closing of the transaction. The transaction has been approved at the 17th meeting of the 5th directorate of the company and are subject to the approval of the China securities regulatory commission.