Ningbo Joyson Electronic Corp. announced a private placement of common shares for the gross proceeds of CNY 300,000,000 on March 27, 2024. 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 shareholders of the company in the 15th meeting of the 11th Board of Directors was held on March 27, 2024.

The proposal still needs to be submitted to the company's shareholders' meeting for review and approval.