Zhejiang Zhongjian Technology Co.,Ltd announced a private placement to issue 39,600,000 A shares for the gross proceeds of CNY 516,200,000 on December 12, 2023. The transaction included participation for not more than 25 investors. Shares subscribed cannot be transferred within 6 months from the issuance completion date. The price of this issuance shall not be less than 80% of the average trading price of the company's stock in the 20 trading days before the pricing base date. The transaction will include participation from 35 investors.

On Same date, 13th Meeting of the 4th Directorate and the 11th Meeting of the 4th Supervisory Board, the transaction has approved the 2023 private placement of A shares and in 2nd Extraordinary Meeting of Shareholders and 2nd Meeting of the 5th Board of Directors.