Zhejiang Goldensea Hi-Tech Co., Ltd announced that it has entered into agreement for a private placement of not more than 63,000,000 A shares at a price of CNY 5.634473015873016 per share for gross proceeds of not more than CNY 354,971,800 on May 24, 2022. The transaction will include participation from 35 investors. The shares cannot be transferred within 6 months from the issuance closing date.

The transaction has been approved by the board of directors of the company at 17th meeting of 4th Directorate and is subject to the approvals of the shareholders of the company and the China Securities Regulatory Commission.