Double Medical Technology Inc. announced a private placement of not more than 120,670,740 A shares for gross proceeds of not more than CNY 1,000,000,000 on September 15, 2020. The transaction will include participation from not more than 35 investors including securities investment fund management companies, securities companies, trust companies, finance companies, insurance institutional investors, qualified foreign institutional investors, and other relevant Legal persons, natural persons or other institutional investors whose conditions are stipulated by laws and regulations. The pricing base date of the transaction is the first day of the issuance period.

The issuance price of the transaction shall not be lower than 80% of the average price of the company's stock trading on the 20 trading days prior to the pricing base date. The transaction was approved at the tenth meeting of the company's second board of directors. The transaction is subject to the approval of the shareholders of the company and approval of the China Securities Regulatory Commission.

The shares issued in the transaction shall not be transferred within 6 months from the date of the end of the issue. The issuance resolution is valid for twelve months from the date when the issuance plan is submitted to the company's general meeting of shareholders for approval.