Hainan Haiqi Transportation Group Co.,Ltd. announced a private placement of A shares on May 27, 2022. The total amount of funds raised does not exceed 100% of the acquisition price of the assets to be purchased by issuing shares, and the number of issued shares does not exceed the listing before the transaction, 30% of the company's total share capital. The company will issue shares at a price of not lower than 80% of the median market price of the company's shares as of 20 previous days to issuance date.

The transaction will include participation from no more than 35 specific investors. The transaction has been approved by the board of directors of the company at its 33rd meeting of the third board of directors. The transaction is subject to approval from company's shareholders meeting and China Securities Regulatory Commission.

The shares issued are subject to a hold period of 6 months from the date of issuance