Harbin VITI Electronics Co., Ltd. announced a private placement of 42,613,636 A shares at an issue price of CNY 3.52 per shares for proceeds of not more than CNY 149,999,999 on July 24, 2023. The transaction will include participation from returning investor Lishui Nancheng New District Investment And Development Co., Ltd. The shares subscribed by the target of the issuance of this fund raising shall not be transferred within 18 months from the date of completion of the fund raising this time. The transaction was approved by the board of directors of the company at its eleventh meeting of the fifth board of directors and subject to approved by the general meeting of shareholders, China Securities Regulatory Commission and Shanghai Stock Exchange.