Xiamen 35.Com Technology Co., Ltd. announced that it has entered into agreement for a private placement to issue not more than 107,382,550 A shares pre-plan at an issue price of CNY 8.94 per share for the gross proceeds of not more than CNY 959,999,997 on June 19, 2023. The transaction was approved by the board of directors of the company at its 9th meeting of the 6th directorate and the 7th meeting of the 6th supervisory board. The transaction included participation from returning investor, Hainan Juxing Technology Co., Ltd. After the issuance, the investor will hold 158,984,116 shares, 33.61% stake.

The shares cannot be transferred within 36 months from the issuance closing date. The transaction is still subject to the approvals of the shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.