Wuxi Longsheng Technology Co.,Ltd announced a private placement of not more than 30,277,708 A shares for gross proceeds of not more than CNY 716,211,000 on November 11, 2021. The transaction will include participation from not more than 35 investors. The company issues shares at a price not less than 80% of the average price in the 20 trading days before the pricing reference date.

The transaction has been approved in the 3rd meeting of the company's 4th directorate and the 3rd 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. The shares cannot be transferred within 6 months from the issuance closing date.