Zhong Fu Tong Group Co., Ltd. announced a private placement of A shares for gross proceeds of not more than CNY 300,000,000 on June 9, 2022. The issuance price shall not be lower than 80% of the company's average stock price for the 20 trading days on the pricing base date. The transaction will include participation from no more than 35 specific objects.

All shares issued are subject to a hold period of 6 months from the end of the issue. The transaction has been approved at the 22nd meeting of the 4th board of directors and the 6th meeting of the 4th board of supervisors.