Shenzhen Hui Chuang Da Technology Co., Ltd. announced that it has signed a subscription agreement for the private placement of not more than 6,581,834 common shares at a price of CNY 22.79 per share for gross proceeds of no more than CNY 149,999,997 on May 24, 2022. The transaction will include participation from Li Ming. The transaction has been approved by the company's 2nd session of the company's 3rd directorate.

The transaction is subject to approval from the company's shareholders and from China Securities Regulatory Commission.