Jiangsu Xiuqiang Glasswork Co., Ltd. announced that it has entered into a Share Subscription Agreement for a private placement of not more than 185,451,726 A shares for gross proceeds of not more than CNY 929,000,000 on November 11, 2021. The transaction will include participation from not more than 35 investors, including Zhuhai Port Co.,Ltd. who will subscribe to approximately CNY 235,000,000 and 25.02% of the issuance. At present, the company's total share capital is 618,172,423 shares, and Zhuhai Port Co., Ltd. holds 154,681,270 shares for 25.02% stake.

The shares Zhuhai Port Co., Ltd. subscribes to cannot be transferred within 18 months from the issuance closing date. The shares the other investors subscribe to cannot be transferred within 6 months from the issuance closing date. The transaction has been approved in the 26th Meeting of the company's 4th Directorate and is subject to the approvals of the company's shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.