Shanghai CDXJ Digital Technology Co., Ltd. announced that it will issue not more than 135,226,320 A shares for gross proceeds of not more CNY 500 million on January 9, 2023. The transaction will include participation from no more than 35 specific investors. The pricing reference date will be the first day of issuance.

Issue price for the shares to be issued in the private placement shall not be lower than 80% of the average stock price 20 trading days before the pricing reference date. After the completion of the transaction, the shares subscribed by the subscribers shall not be transferred within 6 months from the date of completion of the issue. The resolution on this issue of shares will be effective within 12 months from the date when the company's shareholders' meeting considers and approves the proposal on this non-public offering of shares.

The transaction has been reviewed and approved in the thirteenth meeting of the fourth board of directors of the company. This proposal still needs to be submitted to the general meeting of shareholders for consideration.