China Ludao Technology Company Limited announced a private placement on a best effort basis to issue convertible bonds of an aggregate principal amount of not less than HKD 90,000,000 and not more than HKD 120,000,000 on September 15, 2021. The transaction will include participation from not less than six placees including any individual, corporate or other investors. The bonds will be convertible into 60,000,000 conversion shares at a conversion price of HKD 2 per share The convertible bonds will mature following the expiry of three years from the date of the issue of the convertible bonds. The bonds will bear interest from the date of issue at the rate of 5.87% per annum, accrued daily on a 365-day year basis and payable by the company semi-annually in arrears. The convertible bonds are non-transferrable.