ShenZhen RoadRover Technology Co.,Ltd announced a private placement to issue common shares on February 3, 2023. The company shall issue shares at an issue price will not be less than 80% of the average trading price during the 20 trading days prior to the pricing base date. The transaction will include participation from not more than 35 investors.

The shares to be issued shall have a hold period within 6 months after issuance. The transaction has been approved by the 9th session of the company?s 4th directorate and 11th session of the company?s 4th directorate. The transaction is still subject to approval from another directorate, company?s shareholders?

and China Securities Regulatory Commission.