Shenzhen Zqgame Co., Ltd announced that it will issue A shares at an issue price of not more than than 80% of the average trading price during the 20 trading days prior to the pricing base date for the gross proceeds of not more than 30% of total capital prior to issuance on November 11, 2022. The transaction will include not more than 35 specific investors to raise supporting funds. The transaction has been approved by the 29th session of the company's 5th directorate and the 21st session of the company's 5th supervisory board.

The transaction is subject approval from company's directorate and shareholders' meeting, Shenzhen Stock Exchange and Chinese Securities Regulatory Commission. The shares have a restriction period of 6 months after issuance and shares being subscribed by shareholders have a restriction period of 18 months after issuance.