Beijing Beetech Inc. announced a private placement to issue A shares for the gross proceeds of CNY 300,000,000 on April 19, 2024. This issuance of stocks will be issued to specific subscribers through simple procedures, and the subscribers will be no more than 35 investors. All subscribers of this issuance of shares will be subscribed in cash.

The stocks issued to specific subscribers shall not be transferred within 6 months from the date of completion of issuance and the shares subscribed by it shall not be transferred within 18 months from the date of completion of the issuance. The transaction has been approved in the third meeting of the fourth board of directors and still need to be submitted to the company's 872023 annual shareholders' meeting for review.