Sichuan Crun Co., Ltd announced a private placement of common shares for gross proceeds of CNY 630,000,000 on November 11, 2021. The transaction will include participation from not more than 35 investors. The issue price of shares will be no less than 80% of the average price in the 20 trading days before the pricing reference date.

The shares issued are subject to restriction period of 6 months from closing. The transaction has been approved by 26th meeting of 5th directorate of the company and is subject to approval from Shareholders and the China Securities Regulatory Commission.