Sansheng Intellectual Education Technology CO.,LTD. announced a private placement of not more than 112,291,936 A shares at an issue price of CNY 4.3 per share for aggregate gross proceeds of not more than CNY 482,855,300 on October 30, 2022. The transaction will include participation from Shenzhen Tailike New Energy Technology Co., Ltd. for 112,291,936 shares. The A shares will have a lock-up period of 36 months from the issuance closing date.

The transaction has been approved at the 3rd meeting of the company?s 6th directorate and the 3rd meeting of the 6th supervisory board and is subject to approval of the company?s shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.