Shanghai W-Ibeda High Tech.Group Co.,Ltd. announced a private placement of not more than 21,853,432 A Shares for gross proceeds of not more than CNY 695,000,000 on July 1, 2022. The transaction will include participation from no more than 35 investors, including securities investment fund management companies, securities companies, trust companies, financial companies, asset management companies, insurance companies Institutional investors, qualified foreign institutional investors, domestic legal person investors, natural persons or other qualified investors. The issue price of this issue of shares to a specific object is not lower than 80% of the average trading price of the company's stocks in the 20 trading days before the pricing benchmark date.

The final issue price will be approved by the Shanghai Stock Exchange and approved by the China Securities Regulatory Commission. The number of shares to be issued does not exceed 30% of the company's total share capital before the issuance. The transaction has been approved at the 18th meeting of the company's third board of directors and still needs to be reviewed and approved by the company's general meeting of shareholders, Shanghai Stock Exchange, and China Securities Regulatory Commission.

The validity period of the issuance resolution is 12 months from the date of deliberation and approval at the general meeting of shareholders. The securities to be issued in the transaction will be subject to a 6 month hold period from date of issuance.