Zhen'an Technology filed a second revised proposal for a private placement to
specific investors, adjusting total proceeds and the subscription amounts for
Ning Huaxiang and Shenzhen Dongchuang Digital Technology Co. The company now
proposes to raise up to 630 mln yuan from Ning and Dongchuang (inclusive) to
replenish working capital and repay bank loans. Ning is a co-controller of the
company; Shenzhen Dongchuang is an enterprise controlled by Ning Huaxiang and
her husband Zhou Jianqi.