Jiangsu Etern Company Limited announced a private placement of not more than 414,260,942 shares for not more than CNY 1,080,000,000 on June 10, 2021. The subscribers of this issuance are no more than 35 specific investors. The issuance price shall not be lower than 80% of the average trading price of the company's stock in the 20 trading days before the pricing base date.

After the completion of this non-public issuance of stocks, the company's shares subscribed by the issuance target shall not be transferred within 6 months from the date of the issuance. The transaction has been approved by the fifth interim meeting of the company's ninth board of directors. The company's general meeting of shareholders may only be implemented after it has been reviewed and approved by the China Securities Regulatory Commission.