Guang Dong Qun Xing Toys Joint-Stockco.,Ltd. announced a private placement of not less than 141,000,000 A Shares at an issue price of CNY 4.25 for proceeds of not less than CNY 599,250,000 not more than 174,200,000 A Shares at an issue price of CNY 4.25 per share for gross proceeds of not more than CNY 740,350,000 on July 25, 2023. The transaction included participation from new investor Tibet Boxin Technology Development Co., Ltd. The transaction has been approved in the 5th Meeting of the company?s 5th directorate, and the 4th Meeting of the 5th Supervisory Board and is subject to the approvals of the company?s shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission. The shares cannot be transferred within 18 months from the issuance closing date.