Jiangsu Akcome Science and Technology Co., Ltd. announced a private placement to issue not more than 200,000,000 A shares for an aggregate gross proceeds of not more than CNY 300,000,000 on April 24, 2023.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 at the eleventh meeting of the fifth session of the board of directors of the company and still need to be reviewed and approved by the company's general meeting of shareholders, by the Shenzhen Stock Exchange, and by the China Securities Regulatory Commission.