Shunya International Martech (Beijing) Co., Ltd. announced a private placement of not more than 47,500,000 A common shares for gross proceeds of not more than CNY 300,000,000 on October 21, 2021. The transaction will involve participation from no more than 35 investors. The issue price of shares is not less than 80% of the average price in the 20 trading days before the pricing reference date.

The shares cannot be transferred within six months from the issuance closing date. The transaction has been approved in the 14th meeting of the company's 5th directorate and 6th meeting of the 4th directorate and the 5th meeting of the 4th supervisory board, and is subject to the approvals of the company's shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.