Shanghai SK Automation Technology Co., Ltd. announced a private placement to issue not more than 22.8 million shares for an aggregate gross proceeds of not more than CNY 1,135 million on August 30, 2022. The company shall issue shares at a price not less than 80% of the average price in the 20 trading days before the pricing reference date. The transaction will include participation from no more than 35 investors.

The shares to be issued shall have a hold period of 6 months from closing of the transaction. The transaction has been approved at the fifth meeting of the third board of directors of the company. The transaction is still subject to approval from Shenzhen Stock Exchange and the China Securities Regulatory Commission.