Shenzhen Overseas Chinese Town Co.,Ltd. announced a private placement and signed an agreement to issue convertible corporate bonds for gross proceeds of not more than CNY 8,800 million on March 28, 2023. The transaction included participation from not more than 35 investors including returning investor, Overseas Chinese Town Group Co., Ltd. The transaction has been approved at the eleventh meeting of the eighth session of the board of directors and the thirteenth meeting of the eighth session of the board of supervisors. The transaction still needs approval from company's shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.

The company and Overseas Chinese Town Group Co., Ltd. agreed through negotiation that Overseas Chinese Town Group Co., Ltd. will subscribe for part of the bonds issued by the company in cash, and the number of bonds will not be less than 1 million and not more than 10 million.