Lucky Harvest Co., Ltd. announced a private placement to issue not more than 50,000,000 A shares for an aggregate gross proceeds of not more than CNY 1,838,147,500 on September 23, 2022. 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 at the 5th Meeting of the Company?s 4th Directorate and the 5th Meeting of the 4th Supervisory Board on September 23, 2022. The transaction is still subject to approval from the Company?s Shareholders and the China Securities Regulatory Commission.