Jiangsu Shentong Valve Co., Ltd announced a private placement and entered into Subscription Agreement with individual investor Han Li to issue 36,585,365 A shares at an issue price of CNY 8.20 for a gross proceeds of CNY 299,999,993 on March 12, 2024. The stocks subscribed in this issuance shall not be transferred within 18 months from the date of completion of this issuance. The issuance plan has been reviewed and approved by the 12th meeting of the company's sixth board of director and still needs to be reviewed and approved by the company's shareholders' meeting, reviewed and approved by the Shenzhen Stock Exchange, and approved by the China Securities Regulatory Commission before it can be implemented.