Landai Technology Group Corp., Ltd announced a private placement of not more than 116,525,058 A shares for gross proceeds of not more than CNY 600,000,000 on February 25, 2022. The issue price is not less than 80% of the average price in the 20 trading days before the pricing reference date. The transaction will include participation from not more than 35 investors.

The shares cannot be transferred within 6 months from the issuance closing date. The transaction has been approved in the 22nd Meeting of the Company's 4th Directorate, 16th meeting of the 4th supervisory board and is subject to the approvals of the company's Shareholders and the China Securities Regulatory Commission.