Zhejiang Jinke Tom Culture Industry Co., Ltd. announced a private placement to issue not more than 1,054,743,281 A shares at an issue price of not less than 80% of the average price in the 20 trading days before the pricing reference date for the gross proceeds of not more than CNY 2300.114200 million on July 14, 2023. The transaction will include participation from not more than 35 investors. The shares cannot be transferred within 6 months from the issuance closing date.

The transaction has been approved in the 26th Meeting of the Company?s 4th Directorate and the 16th 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.