Shandong Longertek Technology Co., Ltd. entered into a share subscription agreement to issue not more than 16,849,394 A shares at a price of CNY 17.33 for the gross proceeds of CNY 291,999,998 on December 22, 2023. The transaction will include participation from returning investor Qingdao Langjin Group Co., Ltd increasing its stake from 20.72% to 33%. The transaction has been approved by the 29th meeting of the company?s 5th directorate and the 28th meeting of the 5th supervisory board, and is subject to the approvals of the company?s shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.

The shares subscribed by Party B must not be transferred within 36 months after issuance.