HAND Enterprise Solutions Co., Ltd. held the 2022 Annual General Shareholders Meeting, and authorized the Company?s Directorate to implement a simplified private placement of A shares on May 16, 2023.


On July 7, 2023, the company announced a private placement to issue not more than 50,000,000 A shares at issue price CNY 6 per share for not more than gross proceeds of CNY 300,000,000. The transaction included the participation from not more than 35 investors. The issue price will not be lower than 80% of the average trading price of the company?s stock in the 20 trading days prior to the pricing reference date of the transaction. The shares cannot be transferred within 6 months from the issuance closing date. The company has held the transaction is approved in the 10th (Extraordinary) Meeting of the 5th Directorate and the 10th (Extraordinary) Meeting of the 5th Supervisory Board, and approved the simplified private placement of shares. The transaction is still subject to all necessary approvals including Shenzhen Stock Exchange and the China Securities Regulatory Commission.