Super Telecom Co.,Ltd announced a private placement of not more than 47,315,700 A shares for gross proceeds of not more than CNY 1,079,292,200 on June 26, 2023. The transaction will include participation from not more than 35 investors. The issue price will not be less than 80% of the average price in the 20 trading days before the pricing reference date.

The securities have hold period of 6 months from the issuance closing date. The transaction has been approved in the 25th meeting of the company’s fourth directorate and the 16th meeting of the company’s 4th supervisory board, and is subject to the approvals of the company’s shareholders, the Shanghai Stock Exchange, and the China Securities Regulatory Commission.