AVIC Trust Co, Ltd. announced that it has entered into an agreement for a private placement of 634,115,409 common shares at a price of 3.154 per share for the gross proceeds of CNY 1,999,999,999.986 on March 10, 2021. The transaction will include participation from returning investor AVIC Capital Co.,Ltd (SHSE:600705) The transaction has been approved by 30th meeting of the eighth session of the board of directors of the AVIC Capital Co.,Ltd (SHSE:600705) and is still subject approval of general meeting of shareholders of the AVIC Capital Co.,Ltd (SHSE:600705). The transaction is subject to approval of Jiangxi Regulatory Bureau of the China Banking and Insurance Regulatory Commission and there is a certain degree of uncertainty. The investor will contribute CNY 5,458,822,100 representing 84.42% of the registered capital of the company. The company will transfer CNY 634,115,400 to its registered capital and the remaining approximately CNY 1,365,884,600 will be included in the capital reserve. The company will implement a capital reserve of CNY 1,174,749,800 to increase the registered capital. Therefore, after the completion of the capital reserve conversion, the registered capital of company will increase to CNY 5,832,016,900. Post-closing of the transaction, and share expansion, the company's registered capital will be CNY 6,466,132,300. The investor shall remit the subscribed capital increase in full to the company's designated account in one lump sum, within 6 months from the effective date of this agreement. If the time for the capital increase agreed in this agreement is inconsistent with the requirements of the competent department, the requirements of the competent department shall prevail, and both parties to the agreement shall complete the capital increase within the time frame required by the competent department’s approval.