Anhui Ronds Science & Technology Incorporated Company announced that it has entered into a share subscription agreement of not more than 16,459,647 A shares for gross proceeds of not more than CNY 199,984,711 on February 16, 2023. The transaction will include participation not more than 35, including returning individual investor Nie Weihua, who will subscribe with not less than CNY 20,000,000. At present, Nie Weihua directly holds 10,062,620 shares, 18.34% stake, and indirectly holds 11.63% voting rights.

The shares Nie Weihua subscribes to cannot be transferred within 36 months from the issuance closing date. The shares the other investors subscribe to cannot be transferred within 6 months from the issuance closing date. The transaction has been approved in the fourth meeting of the third directorate and the third meeting of the third supervisory board and is subject to the approvals of the company's shareholders, the Shanghai Stock Exchange, and the China Securities Regulatory Commission.