Beijing Compass Technology Development Co., Ltd. announced private placement of 121,499,999 A Shares for not more than 30% of the company's total capital before this issuance for gross proceeds of CNY 3,000,000,000 on May 16, 2022. The issuance price of the share is not lower than 80% of average stock trading price in 20 trading days prior to the base date of pricing. The transaction will include participation from not more than 35 investors. All securities issued in the transaction will be subject to a hold period of 6 months from the date of issuance. The transaction has been approved at the second meeting of the 13th directorate, and the 14th supervisory board in its second meeting of the company. The transaction is subject to approval from shareholders' meeting, Shenzhen Stock Exchange, China Securities Regulatory Commission, and all other relevant approvals as required by law.
The second meeting of the thirteenth board of directors on May 16, 2022. The meeting reviewed and approved the "Regarding the Signing of the Conditional Effective"

On August 16, 2022, the transaction was accepted by the Shenzhen Stock Exchange via [2022] No. 409.