Jiangsu Tongguang Electronic Wire & Cable Co., Ltd. announced a private placement of not more than 109,490,000 A Shares for gross proceeds of not more than CNY 780, 000,000 on May 19, 2022. The transaction will include participation from no more than 35 specific investors. The number of shares to be issued does not exceed 30% of the company's total share capital before the issuance.

The pricing base date for the issuance of shares to specific objects is the first day of the issuance period. The issue price of this time to issue stocks to specific objects shall not be lower than 80% of the average trading price of the company's stocks in the 20 trading days before the pricing benchmark date. The transaction has been approved at 19th meeting of the 5th Board of Directors and the 14th meeting of the 5th Board of Supervisors.

The transaction is subject to approval from company's shareholders general meeting, Shenzhen Stock Exchange and China Securities Regulatory Commission. The securities to be issued in the transaction will be subject to a 6 month hold period from date of issuance.