Flying Technology Co., Ltd. announced a private placement to issue A shares at an issue price of CNY 6.87 per share on November 17, 2023. The transaction will include participation from new investor Qingdao Silicon Valley Paradise Hongtan Investment Co., Ltd. The shares subscribed by Hengying Investment must not be transferred within 18 months after the issuance. The transaction has been approved in the 9th session of the company?s 4th directorate, 8th session of the company?s 4th supervisory board and still needs to be approved by another directorate to approve this reorganization?s formal plan, company?s shareholders?

meeting, Shanghai Stock Exchange and China Securities Regulatory Commission.