Jiangsu Cnano Technology Co., Ltd. announced a private placement of not exceeding 69,756,317 A shares at an issue price for a gross proceeds of not exceeding CNY 2,000,000,000 on December 27, 2022. The issue price of issuance shall not be lower than 80% of the average trading price of the company's stock in the 20 trading days prior to the pricing base date. The transaction will include participation from not more than 35 specific investors.

After the completion of this issuance, the shares subscribed by the issuance target shall not be transferred within six months from the date of completion of the issuance. If national laws, regulations, rules, normative documents and securities regulatory agencies have the latest regulations, regulatory opinions or audit requirements for the restricted period of the shares issued this time, the company will implement the restricted sales in accordance with the latest regulations, regulatory opinions or audit requirements. The transaction has been approved at the second board of directors of the company.

The transaction is still subject to the company's general meeting of shareholders, Shanghai Stock Exchange and China Securities Regulatory Commission.