Qingdao Port International Co., Ltd. announced a private placement to issue A shares at an issue price of CNY 1 per share on June 30, 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 shares to be issued shall have a hold period of 6 months from closing of the transaction. The transaction has been approved by the direct controlling shareholder, internal decision-making body of the counterparty and the company?s 9th meeting of the 4th Directorate. The transaction is still subject to approval from shareholders, Hong Kong Stock Exchange, Shenzhen Stock Exchange, China Securities Regulatory Commission and relevant laws and regulations authorities.

On July 1, 2023, the company announced that the since the relevant auditing and evaluation work involved in this transaction has not been completed for raising supporting funds to the shareholders general meeting for consideration after the company?s 9th meeting of the 4th Directorate.