Shanghai Wondertek Software Co., Ltd announced a private placement of not exceeding 66,240,000 A shares for gross proceeds not exceeding CNY 802,000,000 on May 27, 2020. The transaction will include participation from not more than 35 specific investors. The transaction has been approved in the twelfth meeting of the third board of directors, and is subject to deliberation and approval in its general meeting of shareholders and approval by the China Securities Regulatory Commission. All shares that are being issued pursuant to the transaction shall not be transferred within 6 months from the end of this issuance.