RiseSun Real Estate Development Co.,Ltd announced a private placement of not more than 1,304,449,155 A shares with a par value of CNY 1 per share for gross proceeds of not more than CNY 3,000,000,000 on December 21, 2022. The transaction will include participation from not more than 35 special investors. The pricing reference date will be the first day of issuance.

Issue price for the shares to be issued in the private placement shall not be less than 80% of the average price of the company's stocks 20 trading days before the first day of the issue date. The securities to be issued in the transaction will have a lock-up period of six months after issuance completion date. The transaction has been approved and reviewed by the twenty-first meeting of the seventh board of directors of the company.

The transaction is subject to approval from the company's shareholders, and from China Securities Regulatory Commission. The resolution of this issuance is valid for 12 months from the date of deliberation and approval by the company's shareholders meeting.