Rastar Group announced a private placement of 373,259,520 A shares at a price of not less than 80% of the average price in the 20 trading days before the pricing reference date for gross proceeds of not more than CNY 884,641,300 on May 26, 2023. The transaction will include participation from not more than 35 investors. The transaction has been approved in the 21st Meeting of the Company's 5th Directorate and the 19th Meeting of the Company's 5th Supervisory Board, and is subject to the approvals of the Company's Shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.

The shares have a hold period of 6 months.