Hangzhou Jingye Intelligent Technology Co., Ltd. announced a private placement to issue not more than 3,500,000 shares for an aggregate gross proceeds of not more than CNY 300 million on March 21, 2023. The company shall issue shares at a price not less than 80% of the average price in the 20 trading days before the pricing reference date. The transaction will include participation from no more than 35 investors.

The transaction has been approved by by the 20th meeting of the company's first board of directors and 14th meeting of the first board of supervisors, and it still needs to be approved by the Shanghai stock exchange and the China securities regulatory commission.