Guangdong Insight Brand Marketing Group Co.,Ltd. announced a private placement of not more than 32,990,937 A shares for gross proceeds of not more than CNY 645,014,500 on June 21, 2023. The transaction will include participation from not more than 35 investors. The issue price will be not less than 80% of the average price in the 20 trading days before the pricing reference date.

The securities issued in the transaction have a hold period of six months from the closing date of the transaction. The transaction has been approved in the 11th meeting of the 3rd directorate and the 11th meeting of the 3rd supervisory board, and is subject to the approvals of the company’s Shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.