Guangzhou Ruoyuchen Technology Co.,Ltd. announced a private placement of not more than 36,509,952 non-public Issuance of A shares for a gross proceeds of CNY 201,653,300 on December 9, 2022. The company shall issue shares at a price not less than 80% of the average price in the 20 trading days before the pricing reference date. The transaction will include participation from no more than 35 special investors.

The shares to be issued shall have a hold period of 6 months from closing of the transaction. The transaction has been approved by the fourteenth meeting of the company's third board of directors. The transaction is still subject to approval from Shenzhen Stock Exchange and the China Securities Regulatory Commission.