Zhongfu Information Inc. announced a private placement of 34,851,621 common shares at a price of CNY 14.49 per share for the gross proceeds of CNY 504,999,988.29 on March 29, 2024. As a part of the transaction, the company paid CNY 13,569,859.97 as issuance expense to the company in the transaction. The transaction has been approved by the shareholders of the company in the 2nd meeting of the special meeting of independent directors of the 6th board of directors, 8th meeting of the 6th board of directors of the company, the 7th session of the 6th board of supervisors of the company.