Hanshang Group Co., Ltd. announced a private placement of A shares on August 22, 2023. The shares have a par value of CNY 1 per share. The transaction will include participation from not more than 35 investors.

The shares to be issued shall not be transferred within 6 months from the date of completion of the issuance of shares. The transaction has been approved at the sixth meeting of the eleventh board of supervisors and twelfth meeting of the eleventh session of the board of directors of the company. The transaction still need to be approved at the company's shareholders' meeting.