Shandong Sito Bio-technology Co., Ltd. announced a private placement of not more than 30,000,000 shares for proceeds of CNY 298,082,200 on May 25, 2022. The shares will be subject to a hold period of six months. The transaction has been approved at the 9th Meeting of the 3rd Directorate and the 9th Meeting of 3rd Supervisory Board and the 10th session of the company's 3rd directorate and needs to be reviewed by the Shenzhen Stock Exchange and China Securities Regulatory Commission.

The transaction will include participation from not more than 35 investors.