Qu Mei Home Furnishings Group Co.,Ltd announced a private placement on January 14, 2024. The company issued 117,016,409 A shares at a price of CNY 4.66 per share for gross proceeds of CNY 545,296,465.94. The transaction included participation from new investors Wei Wei for 10,729,613 shares for gross proceeds of CNY 49,999,996.58; Nuode Asset Management Co., Ltd. for 20,180,257 shares for gross proceeds of CNY 94,039,997.62; China Asset Management Co.

Ltd. for 7,081,545 shares for gross proceeds of CNY 32,999,999.70; Caitong Fund Management Co., Ltd. for 27,854,077 shares for gross proceeds of CNY 129,799,998.82; Dong Weiguo for 5,364,806 shares for gross proceeds of CNY24,999,995.96; Huaan Securities Co., Ltd. for 5,364,806 shares for gross proceeds of CNY 24,999,995.96; Guotai Junan Securities Co., Ltd., Investment Arm for 4,175,214 shares for gross proceeds of 19,456,497.24; returning investors Tianan Life Insurance Company Limited of China for 10,729,613 shares for gross proceeds of CNY 49,999,996.58; UBS Group AG for 11,587,982 shares for gross proceeds of CNY 53,999,996.12; Huatai Asset Management Co., Ltd. for 5,364,806 shares for gross proceeds of CNY 24,999,995.96; Minsheng Securities Co.,Ltd. for 8,583,690 shares for gross proceeds of CNY 39,999,995.40.