CCCG Real Estate Corporation Limited announced a private placement of 208,630,106 A shares shares for gross proceeds of not more than CNY 3,500,000,000 on February 22, 2023. The transaction will include participation from returning investor, CCCC Real Estate Group Co., Ltd. and will include not more than 35 investors. CCCC Real Estate Group Co., Ltd. will subscribe to not less than 30% of the total issue volume and not more than 50% of the total issue volume.

The pricing reference date for this issuance of shares is the first day of the issuance period. The issue price shall not be lower than 80% of the average trading price of the company's A shares in the 20 trading days prior to the pricing base date, and shall not be lower than the company's audited net asset value per share attributable to ordinary shareholders of the parent company at the end of the latest period prior to the pricing base date. The shares subscribed by CCCC Real Estate Group Co., Ltd. shall not be transferred within 18 months from the date of completion of the issuance and within six months for other investors.

The transaction has been approved at the 20th meeting of the company's 9th board of directors but still needs to be approved by company's general meeting of shareholders competent State-Owned Assets Supervision and Administration Unit, Shenzhen Stock Exchange and China Securities Regulatory Commission.