Pony Testing Co., Ltd. announced a private placement of not more than 41,106,171 shares for gross proceeds of not more than CNY 2,112,172,500 on September 27, 2021. The issue price shall be not less than 80% of the average price in the 20 trading days before the pricing reference date. The investors shall be not more than 35 investors.

The shares cannot be transferred within 6 months from the issuance closing date. The transaction has been approved in the 25th meeting of the company's 4th directorate and 13th meeting of the 4th supervisory board and is subject to the approvals of the company's shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.