Xingmin Intelligent Transportation Systems (Group) Co., Ltd. announced a private placement of A shares for the gross proceeds not more than CNY 640,000,000 on July 26, 2021. The transaction will included participation from not more than 35 investors. The pricing base date of this non-public offering of shares is the first day of the issuance period.

The issuance price shall not be lower than 80% of the average trading price of the company's stock in the 20 trading days before the pricing base date. The transaction has been approved at 20th meeting of the company's fifth board of directors and subject to approval from company's general meeting of shareholders and the approval of the China Securities Regulatory Commission. The shares to be issued are subject to a hold period of six months from issuance.