Shinry Technologies Co., Ltd. announced a private placement of not more than 37,420,103 common shares for a gross proceeds of not more than CNY 1,405,300,000 on August 29, 2022. The transaction included participation from not more than 35 investors. The transaction has been approved at the ninth meeting of the third board of directors of the company and by the 1st special shareholders' meeting for 2022 of the company.

The issue price will not be less than 80% of the average trading price during the 20 trading days prior to the pricing base date. The pricing base date is the first day of the issuance period. The shares must not be transferred within 6 months after the issuance completion date.