Tibet Summit Resources Co., Ltd. announced a private placement of non-public issuance of not more than 274,260,000 Class A shares for not more than CNY 8,000,000,000 on September 27, 2021. The number of shares in this non-public offering shall not exceed 30% of the total share capital of the company before the issuance. The scope of the non-public offering of shares is not more than 35 specific subscribers, including securities investment fund management companies, securities companies, insurance institutional investors, trust and investment companies, financial companies, qualified foreign institutional investors, and qualified foreign institutional investors that meet the requirements of the China Securities Regulatory Commission, other legal persons, natural persons or other qualified investors specified by the China Securities Regulatory Commission. The issuance price of this issuance shall not be less than 80% of the average stock trading price of the 20 trading days before the pricing base date. The authorization and approval of transaction have been approved by the fourth meeting of the company's eighth board of directors. The transaction is subject to approval of company's general meeting of shareholders and China Securities Regulatory Commission. The transaction needs to go through the registration and listing application matters with the Shanghai Stock Exchange and the Shanghai Branch of China Securities Depository and Clearing Co., Ltd. The shares subscribed by the investors shall not be transferred within 6 months from the date of the end of the issuance.