Suning Universal Co.,Ltd announced a private placement of not more than 910,390,915 A Shares for the gross proceeds of not more than CNY 2,800,000,000 on December 29, 2022. The transaction will include participation from not more than thirty-five investors. The issue price of the transaction will determine on not less than 80% of the average price in the twenty trading days before the pricing reference date.

All the securities issued in the transaction will subject to a hold period of six months. The transaction has been approved by in the twenty-fifth meeting of the tenth directorate and the sixteenth meeting of the tenth supervisory board and is subject to the approvals of the shareholders of the company and the China Securities Regulatory Commission.