China Zhenhua (Group) Science & Technology Co., Ltd announced a private placement of not more than 155,440,085 A shares for gross proceeds of not more than CNY 2,518,000,000 on April 26, 2022. The issue price shall not be lower than 80% of the average stock trading price of 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 closing. The transaction has been approved at the 6th meeting of 9th board of directors of the company and is subject to approval from State-owned Assets Supervision and Administration Agency, the National Defense Science, Technology and Industry Administration, the company's general meeting of shareholders and the China Securities Regulatory Commission.