Jinlei Technology Co., Ltd. announced it will issue 55,636,620 A shares at an issue price of CNY 22.44 per share for gross proceeds of CNY 1,248,485,752.80 in a round of funding from Shandong Finance Investment Group Co., Ltd. on July 16, 2021. The company has signed share subscription agreement with the investor. The investor will become controlling shareholder after completion of the transaction. The shares cannot be transferred within 18 months from the issuance closing date. The transaction has been approved in the 2nd Meeting of the company's 5th directorate and the 2nd meeting of the 5th supervisory board, and is subject to the approvals of the company’s shareholders, the Shenzhen Stock Exchange and the China Securities Regulatory Commission.