Jiangsu Safety Wire Rope Co.,Ltd. announced a private placement to issue common shares for an aggregate gross proceeds of not more than CNY 300 million on April 26, 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 he 26th meeting of the fourth board of directors and the 15th meeting of the fourth board of supervisors and is subject to the approval by the exchange and the China Securities Regulatory Commission.