Wenzhou Yihua Connector Co., Ltd. announced a private placement of not more than 51,201,600 shares for not more than CNY 1,077,410,900 on January 6, 2022. The issue price will not less than 80% of the average price in the 20 trading days before the pricing reference date. The investors will not be more than 35.

The share issuance will not be more than 30% of total share capital. The shares cannot be transferred within 6 months from the issuance closing date. The transaction has been approved in the 2nd meeting of the company's 4th directorate, is subject to the approvals of the company's shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.