Wedge Industrial Co.,Ltd. announced a private placement of not more than 150,186,900 A shares with a par value of CNY 1 each at an issue price not less than 80% of the average price of the company's stocks 20 trading days before the first day of the issue period for gross proceeds of not more than CNY 1,200,000,000 on September 28, 2022. The transaction will include participation from not more than 35 special investors. The transaction has been approved in the 11th meeting of the 11th directorate of the company and is subject to the approval of the company's shareholders meeting, and the China Securities Regulatory Commission.

The resolution of this issuance is valid for 12 months from the date of deliberation and approval by the company's shareholders meeting. The securities are subject to a lock-up period of 6 months. This issuance will not lead to changes in the company's control.