BEH-Property Co.,Ltd announced a private placement to issue not more than 113,220,000 A shares with a par value of CNY 1 each for gross proceeds of not more than CNY 700,000,000 on March 21, 2023.The pricing base date of this non-public offering is the first day of the issue period, and the issue price is not less than 80% of the average price of the company's stocks 20 trading days before the first day of the issue period. The transaction will include participation from no more than 35 investors. The shares to be issued shall have a hold period of 6 months from closing of the transaction.

The transaction has been reviewed and approved by the company at the 19th extraordinary meeting of the ninth board of directors and the seventh meeting of the eighth board of supervisors of the company. The issuance needs to be deliberated and approved by the company's shareholders' meeting and by the relevant examination and approval authorities before it can be implemented.