Shanghai Zhonggu Logistics Co., Ltd. announced a private placement of not more than 133,333,333 A shares at a price not less than 80% of the average trading price during the 20 trading days prior to the pricing base date which is the first day of the issuance period for gross proceeds of not more than CNY 3,000,000,000 on April 9, 2021. The transaction will include participation from not more than 35 specific investors. The transaction has been approved in the 23rd session of the company's 2nd directorate and is subject to approval by the company's shareholders' meeting and the approval from China Securities Regulatory Commission. The shares to be issued are subject to a hold period of 6 months after issuance.

On May 14, 2021, the company announced that the China Securities Regulatory Commission Administrative License Application Receipt has accepted the company's private placement application.