China Fordoo Holdings Limited announced a private placement of 120,000,000 common shares at a price of HKD 0.550 per share for total gross proceeds of HKD 66,000,000 on July 13, 2022. The transaction will include participation from True Faith Ventures Limited. The transaction is expected to close on August 3, 2022. All the securities will subject to a lock-up period of three months from the date of issuance. The company will issue the common shares pursuant to the general mandate granted to the directors at the Annual General Meeting and not subject to shareholders approval. The transaction is subject to approval of the Stock Exchange of Hong Kong Limited and all relevant regulatory authorities.