On January 31, 2024, the company has disclosed the transaction size of CNY 223,600,000. The company announced that the transaction has been approved by the shareholders of the company in the 9th Meeting of the 3rd Directorate and the 6th Meeting of the 3rd Supervisory Board, and approved the 2024 simplified private placement of A shares and is subject to the Company?s Directorate?s approval of the specific plan and the approvals of the Shanghai Stock Exchange and the China Securities Regulatory Commission. The company shall issue shares at a price not less than 80% of the average price in the 20 trading days before the pricing reference date.

The transaction will include participation from no more than 35 investors. The shares cannot be transferred within 6 months from the issuance closing date.