Dongguan Trust Co., Ltd. announced a private placement of common shares at a price of CNY 4.85 per share for gross proceeds of approximately CNY 1,000 million on November 11, 2022. The transaction included participation from returning investors Dongguan Financial Holdings Group Co.,Ltd. for CNY 777.93 million retaining its 77.7931% stake in the company, and Dongguan Development (Holdings) Co., Ltd. for CNY 222.07 million retaining its 22.2069% stake in the company. Post closing, the registered capital of the company will increase from CNY1,450 million to CNY1,656.19 million.

The transaction was approved at the 11th session of 8th directorate of Dongguan Development (Holdings) Co., Ltd.