Beijing ZZNode Technologies Co., Ltd announced a private placement to issue 31,200,000 A shares at an issue price shall not be lower than 80% of the average price of the company's stock transactions in the 20 trading days before the pricing base date for the gross proceeds of CNY 661,885,600 on June 6, 2024. The issuance subscribers of this issuance shall not exceed 35. The transaction has been approved at the 11th meeting of the 5th Board of Directors and subject to the approval of the company's shareholders' meeting, and can only be implemented after the Shenzhen Stock Exchange has reviewed and approved it and the China Securities Regulatory Commission has agreed to register it.

The final issuance plan shall be subject to the plan approved by the China Securities Regulatory Commission. The final number of shares issued shall be determined by the company's board of directors within the scope of authorization of the shareholders' meeting in consultation with the sponsor (lead underwriter) of this issue according to the specific circumstances. If the total amount of funds to be raised or the total number of shares issued by this issue to specific subscribers is reduced due to changes in regulatory policies or the requirements of the issuance approval documents, the number of shares issued by the company to specific subscribers this time will be adjusted accordingly.

After the completion of this issuance, the shares subscribed by the issuing object shall not be transferred within 6 months from the date of completion of the issuance. After the approval of the Shenzhen Stock Exchange and the approval of the China Securities Regulatory Commission for registration, the company will apply to the Shenzhen Stock Exchange and the Shenzhen Branch of China Securities Depository and Clearing Co., Ltd. for stock issuance, registration and listing, and complete all the reporting and approval procedures for this issuance of stocks to specific subscribers. The final issuance plan shall be subject to the plan approved by the China Securities Regulatory Commission.