Yongtaiyun Chemical Logistics Co.,Ltd announced private placement of not more than 15,928,639 A shares at a price of CNY 31.39 per share for proceeds of not more than CNY 499,999,978.21 on July 21, 2023. The transaction will include participation from individual investor Chen Yongfu for 15,928,639 A shares. The securities issued in the transaction have a hold period of 36 months from the issuance closing date.

The shares Chen Yongfu and persons acting in concert held prior to the issuance cannot be transferred within 18 months from the issuance closing date. The transaction has been approved in the 11th Meeting of the 2nd Directorate and the 10th Meeting of the 2nd Supervisory Board, and is subject to the approvals of the Company?s Shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission