GuangDong GenSho Logistics Co.,LTD announced a private placement of not more than 20,000,000 A shares at a issue price of 9.87 per share for gross proceeds of not more than CNY 197,400,000 on February 19, 2021. The company entered in to a purchase agreement with Guangzhou Junhui Enterprise Management Partnership Enterprise (Limited Partnership) for all shares, in the transaction. The shares have a hold period of 36 months from the issuance closing date.

The transaction was approved by board of directors in 19th Meeting of the Company's 4th Directorate, and is subject to the approvals of the Company's Shareholders and the China Securities Regulatory Commission.