Shanghai Starbit Information Technology announces the private placement issue A shares of gross proceeds for CNY 15,000,000.00 on July 10, 2023. The transaction included the participation from new investor GUOMAI Culture & Media Co., Ltd, hold 100% stake. The transaction does not need approval from the board of directors and shareholders.

The company CNY 68,936 will be added to registered capital and remaining will be added to capital reserve. The investment is paid through two tranches. In first tranche, the company will raise CNY 7,500,000.00 is payable within 5 working days after signing of the agreement and after fulfillment of or waiver of pre-requisite.

In second tranche, the company will raise CNY 7,500,000.00 is payable within 5 working days after completion of business registration of Starbit. Both payments shall be deposited to the bank accounts designated by Starbit and the investment payment obligation shall be deemed fulfilled upon completion of all payments. In post closing, the registered capital of the company will increase from CNY 1,080,000.00 to CNY 1,148,936.00.