Hainan Shennong Technology Co., Ltd. announced a private placement of A shares having a par value of CNY 1 per share on June 28, 2022. The number of issued shares does not exceed 30% of the total share capital of the listed company before the issuance, and the total amount of supporting funds raised does not exceed the transaction price of assets purchased by issuing shares in this transaction. The issuance price is not lower than 80% of the company's average stock trading price for the 20 trading days prior to the pricing base date.

The transaction will include participation from not more than 35 investors. The shares shall not be transferred within 6 months from the date of the end of the issuance. The transaction has been approved in the second meeting of the seventh board of directors.