Beijing Kawin Technology Share-Holding Co., Ltd. announced a private placement to issue common shares for an aggregate gross proceeds of not more than CNY 300,000,000 on April 21, 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. The transaction will include participation from no more than 35 investors.

The transaction has been approved by the seventeenth meeting of the fifth board of directors.