Shenzhen Yitoa Intelligent Control Co., Ltd. announced a private placement of not more than 90,000,000 shares for proceeds of not more than CNY 300,000,000 on April 26, 2022. The transaction will include participation from no more than 35 investors. The pricing base date for the issuance of shares is the first day of the issuance period.

The issue price shall not be lower than 80% of the company's average stock trading price in the 20 trading days prior to the pricing benchmark date. The number of shares to be issued shall not exceed 30% of the total share capital of the company before this issuance. The specific number of shares to be issued shall be authorized by the annual general meeting of shareholders to authorize the board of directors.

The final number of shares to be issued is subject to the number approved by the China Securities Regulatory Commission for registration. Shares issued in the transaction shall not be transferred within 6 months from the end of the issuance. The transaction has been approved by board of directors at sixteenth meeting of the fifth board of directors.