JIANGSU LOPAL TECH.CO.,Ltd. announced a private placement of not more than 144,627,405 A shares for gross proceeds not exceeding of CNY 2,200,000,000 on August 27, 2021. The transaction will include participation from not more than 35 investors. The issuance price will be not lower than 80% of the average price of the company's shares as of 20 trading days since issuance date. The shares issues will have a hold period of 6 months from the date of closing. The transaction has been approved by the board of directors of the company at its 23rd meeting of the 3rd directorate and 17th meeting of the third board of supervisors and is subject to shareholder and China Securities Regulatory Commission approvals. The transaction will be valid for 12 months since approval from the shareholders' meeting of the company.

On December 24, 2021, the company announced that the China Securities Regulatory Commission accepted the transaction and issued "China Securities Regulatory Commission Administrative License Application Receipt” (Acceptance No. 213449) with respect to the transaction.