WUXI HODGEN TECHNOLOGY CO., LTD. announced a private placement of A shares for gross proceeds of not more than CNY 50,000,000 on March 29, 2022. The transaction will include participation from not more than 35 specific investors. The final transaction price of the underlying assets will be determined by the parties to the transaction based on the evaluation value of all shareholders' equity of the underlying company confirmed in the asset evaluation report issued by an asset evaluation agency qualified to engage in securities and futures-related business.

The transaction is subject to approval of Shenzhen Stock Exchange and the China Securities Regulatory Commission.