Zhengzhou Tiamaes Technology Co., Ltd announced a private placement of 8,000,000 A shares at an issue price of not less than 80% of the average price in the 20 trading days before the pricing reference date for gross proceeds of up to CNY 115,000,000 on May 8, 2023. The transaction will include participation from not more than 35 investors. The shares cannot be transferred within 6 months from the issuance closing date.

The transaction has been approved by the shareholders of the company.