Hichain Logistics Co.,Ltd. announced that it has entered into a share subscription agreement for a private placement of not more than 19,884,877 shares at an issue price of CNY 19.11 per share for gross proceeds of CNY 379,999,999.47 on May 23, 2022. The transaction will include participation from Liang Chen. All securities issued in the transaction have a hold period of 18 months. The transaction has been approved in the 2nd Meeting of the company's 3rd directorate and the 2nd meeting of the company's 3rd supervisory board, and is subject to the approvals of the company's shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.

On July 1, 2022, the company announced that the application documents with respect to the transaction has been accepted by Shenzhen Stock Exchange.