SGSG Science&Technology Co., Ltd. Zhuhai announced a private placement of not more than 98,455,766 A shares for gross proceeds of not more than CNY 310,000,000 on September 10, 2021. The transaction will include participation from not more than 35 investors. The issuance price shall not be less than 80% of the average price of the company’s stock trading on the 20 trading days before the pricing base date. The shares issued shall not be transferred within six months from the date of the end of the issuance. The transaction has been approved in the company’s 7th meeting of the 4th directorate meeting and is subject to approval from shareholder's of the company and from China Securities Regulatory Commission.