Zhejiang Qianjiang Motorcycle Co., Ltd. announced a private placement of not more than 58,000,000 A shares at a price of CNY 8.70 per share for gross proceeds not more than CNY 504,600,000 on May 20, 2022. The transaction will include participation from Geely Maijie Investment Co., Ltd. The company has entered into share subscription agreement with the investors. The shares issued in the transaction will be subject to restriction period of 36 months.

The transaction has been approved at the sixth meeting of the eighth board of Directorate and is subject to approval from general meeting of shareholders and the approval of the China Securities Regulatory Commission.