Beijing Haitian Ruisheng Science Technology Ltd. announced a private placement to issue common shares for the gross proceeds of up to CNY 789.89 million on June 21, 2023. The company shall issue shares at a price not less than 80% of the average price in the 20 trading days before the pricing reference date. The transaction will include participation from no more than 35 investors.

The shares to be issued shall have a hold period of 6 months from closing of the transaction. The transaction has been approved by the shareholder's of the company in the 17th meeting of the second board of directors of the company and still needs to be submitted to the company’s general meeting of shareholders for deliberation and approval and by the Shanghai Stock Exchange, the China Securities Regulatory Commission.