Guangdong Shenglu Telecommunication Tech. Co., Ltd. announced a private placement of 117,449,664 shares at a price of CNY 5.96 per unit for gross proceeds not exceeding CNY 700,000,000 on July 25, 2022. The transaction includes participation from individual investor Mr. Yang Hua.

The pricing base date of this issuance is the announcement date of the resolutions of the 19th meeting of the fifth session of the board of directors of the company. The price of this non-public offering of shares shall not be lower than 80% of the average trading price of the company's shares in the 20 trading days prior to the pricing benchmark date. The total amount raised shall not exceed 30% of the company's total share capital before this non-public offering.

The securities are restricted to transfer for 18 months from the date of the end of the offering. The transaction has been approved by the 19th meeting of the 5th board of directors, and still needs to be submitted to the company's general meeting of shareholders for consideration and approval , and can only be implemented after the approval of the China Securities Regulatory Commission. After obtaining the approval of the China Securities Regulatory Commission, the company will apply to the Shenzhen Stock Exchange and China Securities Depository and Clearing Co., Ltd.