Tangrenshen Group Co., Ltd announced a private placement to issue A shares at an issue price of not lower than 80% of the company's stock trading average price in the 20 trading days prior to the pricing base date for the gross proceeds of not more than CNY 300,000,000 on June 25, 2023. The transaction will include participation from not more than 35 investors. All securities issued cannot be transferred within 6 months from the date of completion of this issuance.

The transaction has been approved in the thirteenth meeting of the ninth board of directors and it still needs to be approved by the company's board of directors, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.