Changchun Engley Automobile Industry Co.,Ltd. announced a private placement to issue not more than 448,275,947 shares for an aggregate proceeds of not more than CNY 1,051,195,800 on November 14, 2022. 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 by the 10th Meeting of the Company's 4th Directorate and is subject to the approval the China Securities Regulatory Commission and company's shareholders.