Qingdao Hiron Commercial Cold Chain Co., Ltd. announced a private placement of not more than 73,322,355 A shares for gross proceeds of not more than CNY 1,000,000,000 on August 24, 2021. The transaction will include participation from not more than 35 investors. The issue price is not less than 80% of the average trading price of the company's stocks on the 20 trading days before the pricing base date.

The pricing base date is the first day of the issuance period of the offering. The shares will not be transferred within six months from the date of completion of the issuance. The transaction has been approved at the 12th meeting of the third board of directors and at the 19th session of 3rd supervisory board of the company.

The transaction is subject to approval from its shareholder and China Securities Regulatory Commission.