Jiangsu Transimage Technology Co., Ltd. announced a private placement of not more than 86,856,676 A shares for gross proceeds of not more than CNY 3,000,000,000 on March 28, 2023. The transaction will involve participation from not more than 35 specific investors. The issue volume will not exceed 30% of the company?s total share capital before this issuance.

The issuance price is determined through bidding, and the pricing base date for this issuance is the first day of the issuance period. The issue price of this issuance shall not be lower than 80% of the average trading price of the company's stock in the 20 trading days prior to the pricing base date. All securities issued in the transaction are subject to a hold period of six months after the issuance.

The transaction has been approved in the 20th meeting of the third board of directors. The transaction still needs to be approved by the company's general meeting of shareholders, the Shenzhen Stock Exchange and approved by the China Securities Regulatory Commission.