Guangzhou Shangpin Home Collection Co., Ltd. announced a private placement of not more than 59,602,500 A shares for gross proceeds of no more than CNY 800,000,000 on December 1, 2021. The company will issue shares at a price of not lower than 80% of the median market price of the company's shares as of 20 previous days to issuance date. The transaction will include participation from no more than 35 specific investors.

The transaction has been approved by the board of directors of the company at its 4th meeting of the 4th board of directors. The transaction is subject to approval from company's shareholders meeting, Shenzhen Stock Exchange and China Securities Regulatory Commission. The shares issued are subject to a hold period of six months from the date of issuance.

The transaction will be valid for 12 months since approval from the shareholders' meeting of the company.