Shenyang Blue Silver Industry Automatic Equipment Co.,Ltd. announced a private placement of not more than 84,100,775 A shares for gross proceeds of not more than CNY 398,000,000 on May 20, 2022. The transaction will include participation from Guo Hongsheng. The shares issued in the transaction cannot be transferred within 36 months from the issuance closing date.

The transaction has been approved in the eighth meeting of the fourth Directorate and sixth meeting of the fourth supervisory board is subject to the approvals of the shareholders, the Shenzhen Stock Exchange and the China Securities Regulatory Commission.