Suofeiya Home Collection Co., Ltd. announced that it has entered into a purchase agreement of not more than 54,000,000 A shares at a price of CNY 12.80 per share for gross proceeds of not more than CNY 691,200,000 on October 24, 2022. The transaction will include participation from Jiang Ganjun for not more than 22,020,200 shares and Ke Jiansheng for not more than 31,979,800 shares. The shares cannot be transferred within 36 months from the issuance closing date.

The transaction was approved in the 9th Meeting of the company's 5th Directorate and is subject to the approvals of the company's Shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.