Renaissance Asia Silk Road Group Limited announced that it has entered into an three Subscription Agreements to issue 236,716,397 Subscription Shares at an issue price of HKD 0.105 per share for the gross proceeds of HKD 24,855,221.685 on June 1, 2023. The transaction will include participation from individual investors Zhang Jiaxin, Wang Yajun and Yuan Weiran representing approximately 14.97% of the total number of Shares in issue as at the date of this announcement and 13.02% of the total number of Shares as enlarged by the issue of these Subscription Share. The Completion of each of the Subscription Agreements is not inter-conditional upon the Completion of any of the other Subscription Agreements.