Beijing Tongtech Co., Ltd announced a private placement of not more than 120,000,000 A shares for gross proceeds of not more than CNY 2,200,000,000 on March 1, 2022. The transaction will include participation from not more than 35 investors. The issue price shall not be lower than 80% of the company's average stock price in the 20 trading days prior to the pricing benchmark date. The shares to be issued cannot be transferred within 6 months from the date of issuance. The transaction has been approved in the twenty-third meeting of the fourth board of directors of the company, and is subject to approval of China Securities Regulatory Commission, Shenzhen Stock Exchange, and general meeting of shareholders of the company.

On June 21, 2022, the company received notice from Shenzhen Stock Exchange on acceptance of application documents related to the transaction via acceptance [2022] No. 205.