Shanghai Bairun Investment Holding Group Co., Ltd. announced a private placement of 314,907,286 common shares for gross proceeds of up to CNY 2,025,000,000 on August 24, 2023. The transaction has been approved by the board of directors of the company at the twelfth meeting of the fifth board of directors held on August 22, 2023. The transaction still needs the approval from the shareholder of the company, Shenzhen Stock Exchange and the China Securities Regulatory Commission.

The transaction will include participation from not more than 35 specific subscribers. All securities issued cannot be transferred within 6 months from the date of completion of this issuance.