Suntak Technology Co.,Ltd. announced a private placement of not more than 262,691,580 common shares for gross proceeds of not more than CNY 2,000,000,000 on January 27, 2022. The transaction will include participation from not more than 35 specific investors. The pricing base date of this offering is the first day of the issue period, and the issue price is not less than 80% of the average price of the company's stocks 20 trading days before the first day of the issue period.

The number of shares to be issued in this transaction does not exceed 30% of the total share capital of the company before this transaction. The securities issued are subjected to one year hold period. The transaction was approved by the board of directors in its 18th meeting of the fourth session of the board of directors of the company and still subject to review and approval by the Company's general meeting of shareholders and the approval of the China Securities Regulatory Commission.