Qingdao Eastsoft Communication Technology Co.,Ltd announced a private placement of A shares for gross proceeds of CNY 499,999,985.07 on June 27, 2023. The company will issue not more than 36,205,647 A shares at an issue price of CNY 13.81 per share. The shares will be issued to specific investors Foshan Nanhai financial high tech Zone Investment Holding Co., Ltd. will contribute not more than CNY 200,000,000.00 for not more than 14,482,259 shares and Foshan Nanhai Industrial Development Investment Management Co., Ltd will contribute not more than CNY 300,000,000.00 for not more than 21,723,388 shares .

The investors shall not transfer the shares subscribed in this issuance for a period of 18 months from the completion of issuance. This has been approved by the company’s 5th directorate during its 12th meeting. The transaction is subjected to approval from .

State-owned enterprise or state-owned asset supervisory administration; Shareholders meetings of the company; Shenzhen Stock Exchange, and; China Securities Regulatory Commission. The company has signed on the share subscription agreement with investors.