Sunstone Development Co., Ltd. announced that it will issue common shares at a price of not less than 80% of the average trading price during the 20 trading days prior to the pricing base date for gross proceeds of not more than 100% of the transaction price of the acquisition of asset through share issuance and cash payment transaction on May 17, 2022. The transaction will include participation from not more than 35 specific investors. All securities issued in the transaction will be subject to a hold period of 6 months from the date of issuance.

The transaction has been approved by the 28th session of the company's 4th directorate and 20th session of the company's 4th supervisory board and is subject to approval from shareholders of the company and China Securities Regulatory Commission.