Beijing Aerospace Changfeng Co.,Ltd announced a private placement of not more than 135,128,040 A shares for gross proceeds of not more than CNY 325,259,000 on April 2, 2022. The issue price shall not be lower than 80% of average stock trading price in the 20 trading days prior to the pricing benchmark date. The transaction will include participation from not more than 35 investors. The shares issued will be subject to restriction period of 6 months from issuance. The transaction has been approved at the 22nd meeting of the 11th board of directors of the company, subject to approvals from Aerospace Science and Industry Corporation and the National Defense Science and Technology Administration, general meeting of shareholders and the China Securities Regulatory Commission.

On May 12, 2022, the company announced that the transaction has been approved by the China Aerospace Science and Industry Corporation.