Anhui Andeli Department Store Co., Ltd. announced a private placement of not more than 33,600,000 A shares for not more than CNY 1,350,000,000 on February 9, 2022. The investor of this non-public offering of stocks should not be more than 35 specific subscribers. The number of shares shall not exceed 30% of the company's total share capital.

The par value of each share is CNY 1. The issue price shall not be lower than 80% of the average trading price of the company's A shares in the 20 trading days prior to the pricing benchmark date. The shares subscribed by the issuer in this non-public offering shall not be transferred within 6 months from the end of the issue. The transaction been reviewed and approved at the eighth meeting of the fourth session of the board of directors.

This non-public offering of shares still needs to be reviewed and approved by the company's general meeting of shareholders and approved by the China Securities Regulatory Commission. The validity period of this non-public issuance resolution is 12 months from the date of deliberation and approval at the company's general meeting of shareholders.