Linewell Software Co., Ltd. announced a private placement of 176,450,000 A shares at a issue Price CNY 10.30 per share for a gross proceeds of CNY 1,817,435,000 on July 29, 2022. The transaction included participation from CR Digital Holdings Co., Ltd for 176,450,000 Shares. The company has signed share subscription agreement.

The transaction has been approved 22nd Meeting of the Company's 4th Directorate held and is subject to the approvals of the State-owned Assets Management Department, the Company's Shareholders, the State-owned Assets Supervision and Administration Agency, the Concentration of Operators Anti-Monopoly Review, and the China Securities Regulatory Commission. The shares cannot be transferred within 18 months from the issuance closing date.