Jilin University Zhengyuan Information Technologies Co., Ltd. announced a private placement of A shares to issue not more than 13,653,000 shares at a price of CNY 15.71 for an aggregate gross proceeds of not more than CNY 214.4887 on August 17, 2022. The company has signed conditional share subscription agreement with Yu Fengliang. The transaction included participation from Yu Fengliang, actual controllers and chairman of the company.

The company shall issue shares at a price not less than 80% of the average price in the 20 trading days before the pricing reference date. After the completion of the non-public offering of shares, the shares subscribed shall not be transferred within three years from the date of the end of the issuance, and the shares of the company held by the investor of the issuance prior to the issuance shall not be transferred within 18 months from the date of the end of the issuance. The transaction has been reviewed and approved at the fourteenth meeting of the eighth board of directors of the company.

The transaction is still subject to approval of the company's general meeting of shareholders and the approval of China Securities Regulatory Commission.