JIANLIBAO Co., Ltd. entered into a purchase agreement for the placement of common shares for gross proceeds of CNY 300 million on November 20, 2023. The transaction will include participation from new investor, Tianyun International Holdings Limited for approximately 8.40% of the enlarged issued share capital and an indirect effective interest of approximately 4.760% to 5.0%. The investor intends to further increase its effective interest in the company to approximately 20% (but not more than 20%) upon completion of the transaction.