Sunstone Development Co., Ltd. announced that it has entered into a share subscription agreement with returning investor, Lang Guanghui for private placement of not more than 27,347,310 A shares at a price of CNY 10.97 per share for gross proceeds of not more than CNY 299,999,991 on January 15, 2021. The shares will be issued at a premium. The shares will have a lock up period of 36 months. The transaction has been approved at the 12th meeting of the 4th directorate and 10th meeting of the fourth board of supervisors of the company and are subject to the approval of its shareholders meeting and the China Securities Regulatory Commission. The resolution of this issuance is valid for 12 months from the date of deliberation and approval by the company's shareholders meeting.