Shandong Daye Co., Ltd. announced a private placement of not more than 86,987,607 A shares for proceeds of not more than CNY 600,000,000 on February 16, 2022. The transaction will include participation from not more than 35 investors. Issue price will not less than 80% of the average price in the 20 trading days before the pricing reference date.

The shares cannot be transferred within 6 months from the issuance closing date The transaction has been approved at the 13th Meeting of the company's 4th directorate and is subject to its shareholder's approval and China Securities Regulatory Commission.