Beijing Jingyeda Technology Co.,Ltd. announced a private placement of not more than 44,520,000 A shares at a 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 790,500,000 on April 26, 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 25th Meeting of the company's 2nd Directorate and is subject to the approvals of the company's shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.