Beijing StarNeto Technology Co., Ltd. announced a private placement of common shares for gross proceeds of not more than CNY 300,000,000 on April 19, 2023. The transaction will include participation from not more than 35 investors. The shares will have a par value of CNY 1.00 per share.

The transaction has been approved at the 18th meeting of the fourth board of directors and is still subject to approval from the company's 2022 annual general meeting of shareholders, Shenzhen Stock Exchange and China Securities Regulatory Commission. The securities have a hold period of 18 months from the date of completion of the issue. This transaction will not lead to a change in the company's control.

the resolution is valid from the date of deliberation and approval at the 2022 annual general meeting of shareholders to the date of the convening of the 2023 annual general meeting of shareholders.