LUSTER LightTech (Stock Code: 688400.SH) has officially announced that it has obtained the "Approval for the Registration of the Private Placement of Shares to Specific Investors by LUSTER LightTech Co., Ltd." from the China Securities Regulatory Commission (CSRC). This approval signifies that the CSRC has green-lit the company's application to issue shares to selected investors, with the registration remaining valid for a period of 12 months.

Moving forward, LUSTER LightTech will adhere to the stipulated requirements to carry out the private placement and will promptly inform the public of any significant developments in this regard. The total capital to be raised through this private placement is capped at RMB 695.282 million. After accounting for issuance expenses, the entirety of the proceeds will be earmarked for acquiring a 100% stake in JAI, a strategic move aimed at bolstering the company's market position and expanding its business scope.