Beijing StarNeto Technology Co.,Ltd. announced a private placement of 30,937,008 A shares for gross proceeds of not more than CNY 750,000,000 on January 6, 2022. The transaction will include participation from not more than 35 investors. The price of the shares is not less than 80% of the average price in the 20 trading days before the pricing reference date.

The transaction has been approved at the 10th meeting of the company's 4th directorate. The transaction is subject to the approvals of the company's shareholders, the State Administration of Science, Technology and Industry for National Defense, People's Republic of China, and the China Securities Regulatory Commission. The shares cannot be transferred within six months from the issuance closing date.