Xiamen Xiangyu Co., Ltd. announced that it has signed a share subscription agreement for a private placement of 536,809,815 A shares at an issue price of CNY 6.52 per share for gross proceeds of CNY 3,499,999,993.8 on May 16, 2022. The transaction will include participation from China Merchants Group Limited for 153,374,233 shares, from Shandong Port Group Co., Ltd for 153,374,233 shares and from returning investor Xiamen Xiangyu Group Co., Ltd. for 230,061,349 shares. All securities issued in the transaction have a hold period of 18 months.

The transaction has been approved in the 36th meeting of the company's 8th directorate, and is subject to the approvals of the company's shareholders, the State-owned Assets Supervision and Administration Department or its authorized body and China Securities Regulatory Commission.