Guangdong Enpack Packaging announced a private placement to issue not more than 83,472,454 shares at a price of CNY 5.99 per share for an aggregate gross proceeds of not more than CNY 499.999999 million on September 15, 2022. The transaction will include participation from individual investor Weng Weiwu. The shares cannot be transferred within 36 months from the issuance closing date.

The transaction has been approved by the China Securities Regulatory Commission and the company's shareholders in 1st Meeting of the Company's 4th Directorate held on September 15, 2022. At present, the Company's total share capital is 318,394,616 shares and Weng Weiwu holds 92,467,200 shares, 29.04% stake.