Bluestar Adisseo Company announced a private placement of not more than 804,570,381 shares for the gross proceeds of not more than CNY 3,000,000,000 on April 25, 2024. The company shall issue shares at a price not less than 80% of the average price in the 20 trading days before the pricing reference date. The transaction will include participation from no more than 35 investors.

The transaction has been approved by the shareholders of the company in the 18th meeting of the 8th board of directors and the 12th meeting of the 8th board of supervisors. The transaction is subject to to review and approval by the listed company?s general meeting of shareholders; by the Shanghai Stock Exchange and approval by the China Securities Regulatory Commission for registration.