Guangzhou Hangxin Aviation Technology Co., Ltd. announced a subscription agreement of not more than 26,269,702 units of common share at a price of CNY 11.42 per unit for gross proceeds of not more than CNY 300,000,000 on March 25, 2022. The transaction includes participation from returning investor Guangdong Yueyuan Industrial Development Co., Ltd. which currently hold 7.97% of the total share capital of the company. The issue price of the share is not lower than 80% of the average trading price of the company's stock in the 20 trading days prior to the pricing benchmark date.

The securities issued are subject to transfer restriction of 36 months. The transaction is approved by the board of directors of the company at the third meeting of the fifth session of the board of directors. The transaction is subject to approval of shareholders, Shenzhen Stock Exchange and registration with the China Securities Regulatory Commission.