WuHan Yangtze Communication Industry GroupCo.,Ltd announced a private placement of not more than 55,118,110 A Shares at a price of CNY 12.70 per share for gross proceeds of not more than CNY 699.999997 million on August 12, 2022. The transaction included participation from new investor China Information and Communication Technology Group Co., Ltd. The number of shares to be issued with the matching funds raised this time shall not exceed 30% of the total share capital. The shares to be issued will have a hold period of 6 months from date of issuance.

The transaction is approved by the eighth meeting of the ninth session of the board of directors of the company.