Xiamen Meiya Pico Information Co.,LTD. announced a private placement transaction of not more than 61,838,893 Class A common shares to be issued at a price of CNY 12.29 per Class A common share for gross proceeds of not more CNY 760,000,000 on March 3, 2022. The transaction will include participation from returning investor SDIC Intelligent Technology Co., Ltd. Issue price for the shares to be issued in the private placement shall not be lower than 80% of the average stock price 20 trading days before the pricing reference date. The securities to be issued in the transaction will have a lock-up period of eighteen months after issuance completion date.

The transaction has been reviewed and approved at the seventh meeting of the fifth board of directors of the company. The transaction is subject to approval from the company's shareholders and from China Securities Regulatory Commission.