Zhejiang Jinggong Integration Technology Co., Ltd. announced a private placement of not more than A 136,548,000 shares for gross proceeds of not more than CNY 1,949,973,700 on May 12, 2023. The issuance price of this of stocks shall not be lower than 80% of the average stock trading price of the 20 trading days before the pricing base date. The transaction will include participation from not more than 35 specific investors.

The shares issued are subjected to 6 months hold period, from the issuance closing date. The transaction was approved in 13th Meeting of the Company?s 8th Directorate, and is subject to the approvals of the Company?s Shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.