Guangzhou Asset Management Co.,Ltd announced that it will issue not less than 308,337,444 common shares at a price of not less than CNY 1.6216 per share for gross proceeds of not less than CNY 500,000,000 on October 15, 2021. The transaction will include participation from no more than 5 individual investors for not higher than 25% stake in the company. The transaction will include participation from new investor Guangzhou Hengyun Enterprises Holding Ltd for no more than CNY 534,000,000 and a shareholding of no less than 5%.

The transaction has been approved at the seventh meeting of the ninth board of directors of the company.