Guangdong Haid Group Co., Limited announced that it has entered into an agreement for a private placement of not more than 33,266,799 A shares at an issue price of CNY 45.09 per share for proceeds of CNY 1,499,999,966.91 on April 19, 2022. The transaction will include participation from Xue Hua, controller, chairman and general manager of the company. The transaction has been approved by the twenty-sixth meeting of the fifth session of the board of directors of the company and is still subject to the approval of the general meeting of shareholders and the approval of the China Securities Regulatory Commission.