Hengtong Logistics Co., Ltd. announced that it has entered into agreement that it will issue not more than 81,855,388 shares for gross proceeds of more than CNY 2,399,999,976 on October 13, 2021. The transaction will include participation from returning investor Nanshan Group Co., Ltd. The transaction was approved by the board of directors of the company at its sixth meeting of the fourth board of directors and the fifth meeting of the fourth board of supervisors. The shares to be issued will have a hold period of 36 months.

The transaction is subject to company's general meeting of shareholders and approval by the China Securities Regulatory Commission.