ADD Industry (Zhejiang) CO., LTD announced a private placement and it will issue common shares on April 20, 2023. The transaction will include participation from no more than 35 qualified investors. The proceeds should not be exceeding CNY 300 million and does not exceed 20% of the net assets at the end of the most recent year.

The types of shares issued in this non-public offering are domestically listed A shares with a par value of CNY 1 each. The issue price shall not be lower than 80% of the average stock price of the company in the 20 trading days before the pricing base date (the calculation formula is: the average stock trading price of the 20 trading days before the pricing base date 2 the total stock trading volume in the 20 trading days before the pricing base date / 20 trading days before the pricing base date), if the company?s stock has ex-rights and ex-dividends such as dividend distribution, bonus shares, and capitalization of capital reserves between the pricing base date and the issue date, the issue price will be adjusted accordingly. The common shares are restricted.

After the restricted period expires, it will be implemented in accordance with the relevant regulations of the China securities regulatory commission and the Shanghai stock exchange. The transaction has been reviewed and approved by the 17th meeting of the fourth board of directors and still needs to be submitted to the company's 2022 annual general meeting of shareholders for consideration still need to be reviewed and approved by the Shanghai Stock Exchange and registered by the China Securities Regulatory Commission.