Aeolus Tyre Co., Ltd. announced a private placement of shares for gross proceeds of not more than CNY 300 million on April 24, 2024. The transaction will include participation from not more than 35 investors. The shares cannot be transferred within 6 months from the issuance closing date.

The transaction has been approved at the 21st meeting of the 8th board of directors of the company. The transaction is subject to the approval of the company?s shareholders, the Shanghai Stock Exchange, and the China Securities Regulatory Commission.