On June 7th, Gelunhui announced that all the conditions under the placement agreement have been reached, and the placement has been completed on June 7, 2024. A total of 195 million shares of placement shares have been successfully placed at a placement price of HKD 0.144 per share to no less than six subscribers. The placement shares account for (i) approximately 17.61% of the company's issued share capital immediately before completion; and (ii) approximately 14.98% of the company's enlarged issued share capital after completion through the issuance and placement of placement shares.