Jiangsu Yuxing Film Technology Co., Ltd announced a private placement of 86,625,900 A shares at an issue price for gross proceeds of CNY 700,000,000 on December 26, 2022. The transaction included participation from not more than 35 investors. The issuance price shall not be lower than 80% of the average trading price of the company's stock in the 20 trading days prior to the pricing benchmark date.

The shares issued in the transaction shall not be transferred within 6 months from the date of completion of the issuance. The transaction has been approved at the 10th meeting of the 5th board of directors of the company and is still subject to general meeting of shareholders, Shenzhen Stock Exchange and China Securities Regulatory Commission for registration.