Shenzhen Changhong Technology Co., Ltd. announced a private placement to issue A Shares not more than150,752,340 A shares for an aggregate gross proceeds of not more than CNY 800,00,000 on August 16, 2022. The pricing base date of this issuance is the first day of the issuance period, and the issuance price shall not be lower than 80% of the average trading price of the company's stocks in the 20 trading days prior to the pricing base date. The transaction will include participation from no more than 35 investors. After the completion of this issuance, the shares subscribed shall not be transferred within six months from the date of the end of this issuance. The transaction has been approved at the twentieth meeting of the fifth board of directors of the company. The issuance of shares still needs to be reviewed and approved by the company's general meeting of shareholders, reviewed and approved by the Shenzhen Stock Exchange and approved by the China Securities Regulatory Commission.


On October 20, 2022, the company announced that the Shenzhen Stock Exchange has accepted the application (Acceptance [2022] No. 508) of the transaction.