Zhongqi Corporation: Plan to issue A shares to specific targets to raise funds not exceeding 640 million yuan.

Zhongqi Corporation announced that the company plans to issue A-shares to specific objects to raise funds not exceeding 640 million RMB. The funds raised, after deducting issuance expenses, will be used for projects including the production of 3,400 tons of new pesticide raw materials and related products annually, the production of 1,300 tons of new pesticide raw materials and related products annually, the production of 15,500 tons of new pesticide raw materials and related products annually, the production of 1,300 tons of pesticides and related products annually, upgrading the research and development center, creating pesticide product research and registration projects, and supplementing working capital. The pricing benchmark date for this issuance is the first day of issuance period, and the issuance price shall not be lower than 80% of the average trading price of the company's stock for the 20 trading days before the pricing benchmark date. Mr. Wu Yaojun plans to subscribe to the company's issuance with no less than 50 million RMB. The issuance still needs to be approved by the company's shareholders' meeting, reviewed by the Shenzhen Stock Exchange, and approved by the China Securities Regulatory Commission before it can be implemented.