Poly Developments and Holdings Group Co., Ltd. announced a private placement of not more than 819,140,000 A shares for gross proceeds of not more than CNY 12,500,000,000 on December 30, 2022. The transaction will include participation from not more than 35, including returning investor China Poly Group Corporation Limited., who will subscribe no less than CNY 100,000,000 and no more than CNY 1,000,000,000. The types of shares issued in this private placement are domestically listed ordinary A shares with a par value of CNY 1 each.

The pricing base date of this private placement is the first day of the issue period, and the issue price is not less than 80% of the average price of the company's stocks 20 trading days before the first day of the issue period. The company signed the "2023 Non-public Issuance of A Shares Subscription Agreement" with China Poly Group Corporation Limited. China Poly Group Corporation Limited directly holds 335,087,645 shares of the company, accounting for 2.80% of the company's total share capital, holding directly and indirectly a total of 40.49% of the company's shares, and is the actual controller of the company.

The lock-up period for China Poly Group Corporation Limited is 18 months and for the rest of the investors is 6 months. The resolution of this issuance is valid for 12 months from the date of deliberation and approval by the company's shareholders meeting. The transaction has been approved by the company's 12th interim meeting of the board of directors in 2022, and still needs to be approved by the competent state-owned assets supervision and administration unit, by the company's general meeting of shareholders , and by China Securities Regulatory Commission and other securities regulatory authorities.

The transaction has been approved by the 21st Meeting of the 6th Supervisory Board of the company.