Lonkey Industrial Co.,Ltd.Guangzhou announced a private placement to issue not more than 223,048,327 A shares for an aggregate gross proceeds of not more than CNY 600 million on April 28, 2022. The transaction will include participation from returning investor Guangzhou Light Industry & Trade Group Ltd. The shares to be issued shall have a hold period of 18 months from closing of the transaction. The transaction has been approved at the approved at the twelfth meeting of the tenth board of directors and the seventh meeting of the tenth board of supervisors on April 28, 2022.

The transaction is still subject to approval from shareholders and the China Securities Regulatory Commission.