Zhewen Interactive Group Co., Ltd. announced a private placement of not more than CNY 800,000,000 on December 29, 2021. The transaction will include participation from Hangzhou Bowen Equity Investment Co., Ltd. The offering price is CNY 4.85 per share, which is not less than 80% of the average price of the company's stock trading on the 20 trading days before the pricing base date. The company will not issue more than 164,948,453 shares, accounting for no more than 12.47% of the company's total share capital before the non-public issuance, and no more than 30% of the company's total share capital before the non-public issuance. The shares subscribed by investor shall not be transferred within 18 months from the date of the end of the offering. The transaction has been deliberated and approved at the first meeting of the company's tenth board of directors, is subject to approval of competent state-owned assets authorities, company's shareholders meeting, and China Securities Regulatory Commission.

On June 20, 2022, the company announced that the China Securities Regulatory Commission has accepted of the application for non-public offering of shares.