CloudWalk Technology Co., Ltd. announced a private placement of not more than 311,081,636 A shares at an issue price of not less than 80% of the company's stock trading average price in the 20 trading days prior to the pricing base date for the gross proceeds of not exceeding CNY 3,635,190,000 on March 30, 2023. The transaction will include participation from not more than 35 investors. The transaction has been approved at the fifth meeting of the second session of the board of directors of the company and is subject to approval of the Shanghai Stock Exchange and the China Securities Regulatory Commission.

The shares shall not be transferred within six months from the date of completion of the issuance.