YaGuang Technology Group Company Limited announced that it has entered into agreement for a private placement of not more than 147,587,719 A shares at an issue price of CNY 4.56 per share for gross proceeds of CNY 673,000,000 on June 7, 2022. The transaction will include participation from returning investor Hunan Sunbird Holding Co., Ltd. The transaction was approved by the board of directors of the company at its thirty-fifth meeting of the fourth directorate and is subject the review of military matters by the State Administration of Science, Technology and Industry for National Defense, PRC, the company's shareholders' meeting, the Shenzhen Stock Exchange and by the China Securities Regulatory Commission. The share to be issued will have a hold period of 18 months.