JCET Group Announces Private Placement Plan with Related-Party Subscription Agreement

Deep News09-03

Jcet Group Co., Ltd. announced on September 3 that it plans to issue A-shares to specific targets, with the issuance size capped at 30% of its current total share capital, or no more than 536,824,371 shares (inclusive), aiming to raise a maximum of RMB 6.5 billion.

The company's controlling shareholder, Panshi Runqi (Shenzhen) Information Management Co., Ltd., has agreed to subscribe in cash for 22.53% of the total funds raised in this issuance. This transaction is classified as a related-party transaction but does not constitute a major asset restructuring as defined in the Measures for the Administration of Major Asset Restructuring of Listed Companies.

The issuance remains subject to several approvals before implementation, including clearance from the competent state-owned asset regulatory authority, shareholders' meeting approval, review and approval by the Shanghai Stock Exchange, and registration with the China Securities Regulatory Commission.

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