Baolingbao Biology Co.,Ltd. announced a private placement to issue common shares for the gross proceeds of not more than CNY 300,000,000 on February 6, 2024. The stocks subscribed by the issuance subscribers shall not be transferred within 6 months from the date of completion of this issuance. The transaction has been approved in the 25th meeting of the fifth board of directors.

The final issuance price of this issuance of stocks to specific subscribers through a simplified procedure will be determined by the board of directors in accordance with the authorization of the 2023 Annual General Meeting of Shareholders and relevant regulations, and based on the bidding results and consultation with the sponsor (lead underwriter). The validity period of this issuance resolution is from the date of review and approval by the 2023 annual shareholders' meeting to the date of the company's 2024 annual shareholders' meeting. The stocks issued to specific subscribers through simple procedures will be listed on the Shenzhen Stock Exchange after the private placement is completed.