Shang Hai Ya Tong Co.,Ltd. announced a private placement to issue A shares for the gross proceeds of up to CNY 570,000,000 on September 25, 2023. 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. The transaction will include participation from no more than 35 investors.

The shares subscribed shall not be transferred within six months from the date of completion of the issuance. The transaction has been approved by the shareholder's of the company at the 23rd meeting of the tenth board of directors of the company and at the 7th session of the company?s 10th supervisory board was held on September 25, 2023. and is subject to approval by the company?s shareholders?

meeting, and is subject to approval by Shenzhen Stock Exchange and China Securities Regulatory Commission.