Jiangsu Hongdou Industrial Co.,LTD announced a private placement of not more than 380,000,000 A Shares plan at an issue price of gross proceeds of not more than CNY 1,200,000,000 on January 16, 2023.The issue price shall not be lower than 80% of the average trading price in the 20 trading days before the pricing base date. The transaction will include participation from not more than 35 investors. The transaction has been approved at the 36th extraordinary meeting of the eighth board of directors and the 21st extraordinary meeting of the eighth board of supervisors.

The transaction is still subject to company's shareholders and approved by the China Securities Regulatory Commission.