Guolian Securities Co., Ltd. announced a private placement of no more than 475,623,800 A Shares at a price of not less than CNY 4.24 per share for the gross proceeds of not more than CNY 6,500,000,000 on February 5, 2021. The transaction will include participation from not more than 35 investors. The pricing base date of shares is the first day of the issuance period.

The issuance price shall not be lower than whichever is higher of the 80% of the average transaction price of the company's A shares 20 trading days before the pricing base date (excluding the pricing base date) and the company's audited net asset value per share attributable to parent company's shareholders as the end of the latest period before the issuance. Post the closing of the transaction, investors holding more than 5% stake in the company must not transfer shares subscribed within 36 months after the issuance completion date and investors holding less than 5% stake in the company must not transfer shares subscribed within 6 months after the issuance completion date. The transaction is approved by board of the company and by the 8th session of the company's 4th supervisory board.

The transaction subject to approval from Shareholders meeting to be held on March 1, 2021 and the China Securities Regulatory Commission approval.