On November 11, 2015, as approved by the China Securities Regulatory Commission pursuant to the "Reply on the Approval of Issuing Shares by Jiangsu Zhongtian Technology Co., Ltd. to Zhongtian Technology Group Co., Ltd. and Other Related Party to Purchase Assets and Raise Matching Funds" (Permission from CSRC [2015] No. 2400), ZTT issued a total of 154,268,176 RMB ordinary shares (A shares) to Zhongtian Technology Group Co., Ltd. and Nantong Zhongyu Investment Co., Ltd. to purchase their 100% shares of Zhongtian Broadband Technology Co., Ltd., Jiangdong Fittings Equipment Co., Ltd. and Zhongtian Alloy Technology Co., Ltd., with an issue price of 14.58 yuan/share and a total transaction value of 2.25 billion yuan; on December 7, 2015, ZTT issued 27,272,727 RMB ordinary shares (A shares) in a non-public manner to raise matching funds for target companies, with an issue price of 22.00 yuan/share and a total amount of 600 million yuan. The funds were used for the research and development of Zhongtian Broadband 4G intelligent electric adjustment antenna and industrial project, technical transformation project of Jiangdong Fittings insulator and lightning arrester series, technical transformation project of Zhongtian Alloy high-precision oxygen-free copper deep processing, and supplementing the liquidity of three target companies.