ArcherMind Technology (Nanjing) Co., Ltd. announced a private placement of not more than CNY 300,000,000 on April 14, 2022. The transaction will include participation from not more than 35 investors. The issue price of the share is not less than 80% of the average price of the company's stock transactions 20 trading days before the pricing base date.

The securities issued in the transaction shall not be transferred within 6 months from the date of issuance. The transaction has been approved in the twenty-fourth meeting of the third board of director meeting of the company. The transaction is subject to approval from the shareholders in the annual general meeting of the company.