Ningbo Tuopu Group Co.,Ltd. announced a private placement of not more than 330,613,971 A shares for gross proceeds of not more than CNY 4,000,000,000 on December 9, 2022. The number of issued shares shall not exceed 30% of the company's total share capital before the issuance, and shall be subject to the approval document issued by the China Securities Regulatory Commission on this issuance. The price of stocks shall not be lower than the average price of the company's stock in the 20 trading days before the pricing base date.

The shares subscribed by the issuer shall not be transferred within 6 months from the date of completion of the issue. The transaction will include participation from no more than 35 specific subscribers. The transaction has been approved in the twenty-seventh meeting of the fourth board of directors and 17th meeting of the 4th board of supervisors of the company and still needs to be submitted to the company's shareholders' meeting for review and approval, and can only be implemented after being approved by the China Securities Regulatory Commission.