Shenyang Cuihua Gold and Silver Jewelry Co., Ltd. announced placement of not more than 65,409,307 common shares at a price of CNY 11.92 per share for the gross proceeds of not more than CNY 779,678,939 on March 31, 2023. The transaction will include participation from new investors, Sichuan Siterui Technology Co., Ltd., for 16,352,326 common shares for 5.09% stake in the company and individual investor for 49,056,981 common shares for 15.26% stake in the company. The shares have a lock up period of 18 months.

After the completion of this issuance to specific targets, the registered capital of the company will increase to CNY 321,565,307.00, and the total number of issued shares will increase to 321,565,307 shares. The transaction has been approved by the shareholder's of the company in the second interim meeting of the fifth board of directors in 2023 and the second interim meeting of the fifth board of supervisors in 2023.