MCLON JEWELLERY Co.,Ltd. announced a private placement of not more than 61,200,000 A shares for gross proceeds not more than CNY 716,000,000 on August 12, 2022. The transaction will include participation from not more than 35 investors. The transaction has been approved by the board of directors in the 7th meeting of the company's 5th directorate and is subject to the approvals of the company's shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.

The shares cannot be transferred within 6 months from the issuance closing date. The pricing reference date will be the first day of issuance. Issue price for the shares to be issued in the private placement shall not be lower than 80% of the average stock price 20 trading days before the pricing reference date.