Jade Bird Fire Co., Ltd. announced that it will issue not more than 20% of total share capital, 348,935,611 shares at a price of not 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 2,206,162,600 on April 18, 2022. The transaction will include participation from not more than 35 investors. The securities issued in the transaction will subject to a hold period of 6 months from the closing date.

The transaction has been approved at the 3rd Meeting of the 4th Directorate and the 2nd Meeting of the 4th Supervisory Board of the company and is subject to approval from the company's shareholders and China Securities Regulatory Commission.