Shandong Linglong Tyre Co., Ltd announced a private placement of not more than 137,351,241 A shares at an issue price not to be lower than 80% of the average price of the company's stock trading on the 20 trading days prior to the pricing base date for gross proceeds of CNY 2,500,000,000 on September 13, 2021. The transaction will include participation from not more than 35 investors. The shares to be issued will be subject to hold period of six months. The shares shall not exceed 10% of the company's total share capital before the non-public issuance and the pricing base date of issuance price is the first day of the issuance period of this issuance. The transaction has been approved at the 27th meeting of the fourth board of directors of the company and 24th meeting of the 4th Supervisory Committee and is subject to the approval from general meeting of shareholders and China Securities Regulatory Commission.

On December 2, 2021, the company announced that the China Securities Regulatory Commission has accepted the administrative license application with respect to the transaction via Administrative License Application Acceptance Form (Acceptance Serial Number: 213204).