Zhuhai Zhongfu Enterprise Co.,Ltd announced a private placement to issue not more than 385,710,756 shares for an aggregate gross proceeds of not more than CNY 411,229,000 on December 6, 2023. The company shall issue shares at a price not less than 80% of the average price in the 20 trading days before the pricing reference date. he transaction will include participation from no more than 35 investors.

The shares to be issued shall have a hold period of 6 months from closing of the transaction. The transaction has been approved by the 10th meeting of 2023 of the company?s 11th directorate and the 4th meeting of 2023 of the11th supervisory board, and is subject to the approvals of the company?s shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.