Shenzhen Microgate Technology Co., Ltd. announced a private placement to issue A shares for the gross proceeds of up to CNY 104,400,000 on November 23, 2023. The company shall issue shares at a price not less than 80% of the average price in the 20 trading days before the pricing reference date. The transaction will include participation from not more than 35 investors. The shares to be issued shall have a hold period of 36 months from closing of the transaction. The transaction has been approved by the shareholder of the company in the 8th session of the company?s 6th directorate and is subject to approval by the company?s shareholders? meeting, and is subject to approval by Shenzhen Stock Exchange and China Securities Regulatory Commission.

On January 5, 2024, the company received notice on acceptance of its Acquisition of Assets through the Issuance of Shares and Raising of Supporting Funds Application Documents Acceptance [2023] No. 5 issued by the Shenzhen Stock Exchange, having reviewed and decided to accept the company?s acquisition of assets through the issuance of shares and raising of supporting funds application.