China Publishing & Media Holdings Co., Ltd. announced that it has entered into share subscription agreement for the private placement of not more than 79,490,675 A shares at a price of CNY 4.12 per share for gross proceeds of CNY 327,501,581.02 on August 30, 2022. The transaction will include participation from existing investor, China Publishing Group Co., Ltd. The shares cannot be transferred within 18 months from the issuance closing date. The transaction has been has been approved in the second meeting of the company's third directorate and second meeting of the company's third supervisory and is subject to the approvals of the company's shareholders, the relevant authorities, and the China Securities Regulatory Commission.