Ginlong Technologies Co., Ltd. announced a private placement of not more than 45,000,000 shares for the gross proceeds of not more than CNY 2,925,000,000 to not more than 35 investors on June 28, 2022. Issue Price is not less than 80% of the average price in the 20 trading days before the pricing reference date. The shares cannot be transferred within 6 months from the issuance closing date. The transaction has been approved by board of directors of the company the 9th Meeting of the Company's 3rd Directorate and is subject to the approvals of the Shenzhen Stock Exchange and the China Securities Regulatory Commission.

On August 2, 2022, the company announced that the application for non-public issuance of shares is accepted by the Shenzhen Stock Exchange ”(Acceptance [2022] No. 384)" issued by the Shenzhen Stock Exchange, having reviewed and decided to accept the Company's private placement application.