Henan Ancai Hi-Tech Co., Ltd announced a private placement of not more than 258,880,000 A shares for gross proceeds of up to CNY 1,200,000,000 on July 14, 2021. The transaction will include participation from no more than 35 including returning investor Henan Investment Group. Henan Investment Group.

The shares not exceeding 30% of the company's total share capital before the issuance. The issue price shall not be less than 80% of the average price of the company's stock trading on the 20 trading days prior to the pricing base date. does not exceed 30% of the company's total share capital before the issuance.

The shares subscribed by the controlling shareholder Henan Investment Group for this transaction shall not be transferred within 18 months from the date of completion of the offering. The shares subscribed by other issuers for this issue shall not be transferred within 6 months from the date of the end of the issue. The transaction has been approved by 13th meeting of its seventh board of directors.

The transaction is subject to be submitted to the state-owned assets supervision and management agency or authorized unit for approval, and its shareholders meeting for review and approval, and It can be implemented after approval by the China Securities Regulatory Commission.