COL Group Co.,Ltd. announced a private placement of 218,981,885 A shares for the gross proceeds of CNY 2,509,873,600 on June 8, 2023. The transaction will include participation from not more than 35 investors. The issue price is not less than 80% of the average price in the 20 trading days before the pricing reference date.

The transaction has been approved by the 23rd Meeting of the Company's 4th Directorate. The transaction is subject to the approvals of the Company's Shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.