Gohigh Networks Co., Ltd. announced a private placement of not more than 339,942,006 A shares for gross proceeds of not more than CNY 1,528,653,400 on June 13, 2022. The issue price shall not be lower than 80% of the average trading price of the company's shares in the 20 trading days before the pricing benchmark date. The transaction will include participation from not more than 35 investors.

The transaction has been approved in the 28th meeting of the 9th board of directors of the company. The transaction is subject to approval from company's general meeting of shareholders and the approval of the China Securities Regulatory Commission. All securities issued in the transaction have a hold period of 6 months.