YOUNGY Co.,Ltd announced that it has entered into share subscription agreement to issue not more than 17,609,391 shares of class A at issue price of CNY 18.74 per share for gross proceeds of not more than CNY 329,999,987 on November 24, 2020. The transaction will include participation from returning investor, Lv Xiangyang. The securities issued in the transaction are subject to a hold period of 18 months from the closing of the transaction. The transaction has been approved at the 11th meeting of the company's 7th directorate and the 8th meeting of the 7th supervisory board. The transaction is still subject to approval from the shareholders and China Securities Regulatory Commission.