Road Environment Technology.,Ltd entered into agreement to issue common shares aa private placement of not more than 8,160,000 A shares at a price of CNY 13.87 per share for gross proceeds of not more than CNY 113,179,200 on May 14, 2022. The transaction will include participation from individual investor Ji Guangming and shall not be transferred within 18 months from the end of this issuance. The transaction has been approved at the first meeting of the fourth board of directors of the company, and it still needs to be reviewed and approved by the company's general meeting of shareholders, the Shanghai Stock Exchange and the China Securities Regulatory Commission.