Shanghai QiFan Cable Co., Ltd announced a private placement to issue 125,441,089 A shares for the gross proceeds of CNY 1,000,000,000 on May 30, 2024. The pricing base date of this issue is the first day of the issue period, and the issue price shall not be lower than 80% of the average trading price of the company's shares in the 20 trading days before the pricing base date. The issuance of A-shares to specific subscribers this time is directed to no more than 35 specific investors.

The transaction has been approved in 26th meeting of the third board of directors still needs to be reviewed and approved by the company's shareholders' meeting, approved by the Shanghai Stock Exchange, and approved by the China Securities Regulatory Commission for registration. The final issuance plan shall be subject to the plan approved for registration by the China Securities Regulatory Commission. The final number of shares to be issued will be determined by the company's board of directors or a person authorized by the board of directors in consultation with the sponsor (lead underwriter) based on the authorization of the shareholders' meeting after the issuance is reviewed by the Shanghai Stock Exchange and approved for registration by the China Securities Regulatory Commission.

After the completion of this issuance, the shares subscribed by the issuance object shall not be transferred within six months from the date of the end of this issuance.