Orient International Enterprise, Ltd. announced a private placement of A shares not more than CNY 300,000,000 on May 30, 2023. The transaction will include participation from not more than 35 specific investors. The number of shares to be issued shall be determined based on gross proceeds divided by issue price.

The number of shares shall not exceed 30% of the company's number of shares prior to this issuance. The issuance price of this of stocks shall not be lower than 80% of the average stock trading price of the 20 trading days before the pricing base date. The transaction has been approved at the 46th meeting, the company's 8th directorate approved the resolution to request the shareholders' meeting of the company.

The shares issued are subjected to 6 months hold period, from the issuance closing date, and for investors that are governed under Paragraph 57 (2) of “Administrative Measures for the Registration of Securities Issuance by Listed Companies,” they shall not transfer the shares subscribed in this issuance for a period of 18 months from the completion of issuance. The transaction is subject to approval from the company's shareholders meeting.