Sichuan Kexin Mechanical and Electrical Equipment Co.,Ltd announced a private placement of not more than 69,479,700 A shares for gross proceeds of not more than CNY 580,689,000 on July 29, 2022. The transaction will include participation from not more than 35 investors. The issue price will be not less than 80% of the average price in the 20 trading days before the pricing reference date.

The shares can't be transferred within 6 months. The transaction has been approved at the 11th meeting of the company's 5th Directorate and and the 9th Meeting of the 5th Supervisory Board, and is subject to the approvals of its Shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.