ChengDu Hi-Tech Development Co., Ltd. announced a private placement to issue A shares at an issue price of not less than 80% of the average trading price of the company's stock in the 20 trading days before the pricing benchmark date on October 18, 2023. The transaction will include participation from new investors Gongqingcheng Huakun, and Pingtan Yunchen and not more than 35 investors. The transaction has been reviewed and approved at the 69th extraordinary meeting of the 8th board of directors and Chengdu State-owned Assets Supervision and Administration Commission and is subject to Shenzhen Stock Exchange and registered by the China Securities Regulatory Commission.

The securities are restricted to a hold period of 6 months.