Dark Horse Technology Group Co., Ltd. announced a private placement to issue not more than not more than 50,213,839 A shares at an issue price of not less than 80% of the average price in the 20 trading days before the pricing reference date for the gross proceeds of not more than CNY 506,689,900 on July 20, 2023. The transaction will include participation from not more than 35 investors. The shares cannot be transferred within 6 months from the issuance closing date.

The transaction has been approved in the the 11th Meeting of the 3rd Directorate and the 10th Meeting of the 3rd Supervisory Board and is subject to the approvals of the Company?s Shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.