Zhejiang VIE Science & Technology Co., Ltd. announced a private placement of not more than 143,894,077 A shares for gross proceeds of CNY 387,640,000 on December 6, 2021. The transaction included participation from not more than 35 investors. The issue price should not be less than 80% of the average price in the 20 trading days before the pricing reference date. The shares cannot be transferred within 6 months from the issuance closing date. The transaction has been approved in the 13th meeting of the company’s 5th directorate, and is subject to the approvals of the company’s shareholders and the china securities regulatory commission.