Shanghai Jukun Network Technology Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 550,000,000 on August 30, 2021. The transaction will include participation from returning investors Giant Investment Co., Ltd. for CNY 280,500,000, Giant Network Group Co., Ltd. for CNY 268,479,800, and Shanghai Judao Network Technology Co., Ltd for CNY 1,020,300 and will continue to hold 51%, 48.81%, and 0.19% stakes in the company. The transaction has been approved at the twelfth meeting of the fifth board of directors of Giant Network Group Co., Ltd.