WG TECH (Jiang Xi) Co., Ltd. announced a private placement of not more than not more than 51,354,769 A shares at an issue price of not be less than 80% of the average price in the 20 trading days before the pricing reference date for gross proceeds of not more than CNY 1,500,000,000 on July 17, 2023. The transaction will include participation from not more than 35 investors. The transaction has been approved at the 6th meeting of the 4th directorate and the 5th meeting of the 4th supervisory board and is subject to the approvals of the company?s shareholders, the Shanghai Stock Exchange, and the China Securities Regulatory Commission.

The securities have a hold period of 6 months from the date of closing.