Jilin Chengcheng Group Co Ltd to Issue A Shares in Private Placement; Announces Change in Shareholding Structure

Jilin Chengcheng Group Co Ltd announced that it will issue 1.2 billion A shares of common stock with par value of RMB 1 per share at RMB 3.75 per share, to raise RMB 4.5 billion in private placement. Two Shanghai-based investment centers, a Shanghai-based investment management center, a Shenzhen-based investment guarantee company, a Beijing-based investment group, a Jiangxi-based industry development company, and Mr. Wu Xijun, will respectively acquire 100 million shares in the private placement for RMB 375 million, and begin to hold a 6.51% stake in the Company. Mr. Cheng Qingbo will acquire 500 million A shares in the private placement, and thus directly and indirectly hold a 34.51% stake in the Company.