HyUnion Holding Co.,Ltd announced a private placement of not more than 80,000,000 A shares at an issue price of CNY 6.32 per share for aggregate gross proceeds of not more than CNY 505,600,000 on November 4, 2022. The transaction will include participation from returning individual investors, Liu Guoping and Sun Gang. The A shares will have a lock up period of 18 months from the issuance closing date.

The transaction has been approved by the 5th (Extraordinary) Meeting of the company's 5th Directorate and is subject to approvals of the company's shareholders and the China Securities Regulatory Commission.