Sunfly Intelligent Technology Co., LTD announced a private placement of not more than 149,253,387 A shares for gross proceeds of not more than CNY 300,000,000 on June 1, 2023. The transaction will include participation from not more than 35 investors. The pricing base date of this issuance is the first day of the issuance period of the company's stock issuance.

The issue price shall not be lower than 80% of the average price of the company's A shares in the 20 trading days prior to the pricing base date. The securities issued in the transaction will have a hold period of 6 months from the date of listing of the shares.