GCL System Integration Technology Co., Ltd. announced a private placement of not more than 1,755,094,928 A shares with a par value of CNY 1 each for gross proceeds of not more than CNY 6,000,000,000 on December 9, 2022. The transaction will include participation from not more than 35 special investors who all will subscribe in cash. The pricing base date of this non-public offering is the first day of the issue period, and the issue price is not less than 80% of the average price of the company's stocks 20 trading days before the first day of the issue period.

The lock-up period for the securities is 6 months. The transaction has been approved in the 31st meeting of the 5th directorate of the company, and are subject to the approval of the company's shareholders meeting, Shenzhen Stock Exchange and the China Securities Regulatory Commission. The resolution of this issuance is valid for 12 months from the date of deliberation on and approval by the company's shareholders meeting.