Board of Directors Approved to terminate the securities issuance by private placement resolved by Y2021 AGM.

 GCS Board of Directors Approved to terminate the
securities issuance by private placement resolved by
Y2021 AGM.

1.Date of the board of directors resolution for the change:2022/02/23
2.Effective registration date of the original plan:NA
3.Resolution date of additional issuance:NA
4.Major change Reason for the change:
(1)The long-term funds raising plan including private placement was approved
 by shareholders' meeting on July 2, 2021. The number of issued common
 shares will not exceed 20,000,000 shares within one year in several times
 (not to exceed three times) starting from the date of shareholders'
 meeting. The funds raising plan includes issuing ordinary shares by private
 placement and/or issuing ordinary shares to participate in GDR offering by
 private placement and/or issuing domestic or overseas convertible bonds by
 private placement. The expiration date for this plan is on July 1, 2022.
(2)In addition, another issuance of ordinary shares by private placement
 was approved by the Extraordinary Shareholders' Meeting held on December
 10, 2021. The sum of issued common shares of this private placement
 and the issued common shares approved by the shareholders' meeting on
 July 2, 2021, will not exceed the total limit of 20,000,000 common shares.
(3)The issuance of ordinary shares by private placement shares approved by
 the Extraordinary Shareholders' Meeting held on December 10, 2021 was
 issued 20,000,000 shares within abovementioned issuance limit. Therefore,
 the Board of Directors approved to terminate the issuing ordinary shares
 or issuing ordinary shares for participating in issuance of GDR or issuing
 ordinary shares for participating in domestic or overseas bonds by private
 placement resolved by Y2021 AGM.
5.Content of each and every successive previously changed
plan for raising of funds before and after change:NA
6.Projected timetable for execution:NA
7.Projected completion date:NA
8.Projected possible benefits:NA
9.Difference from original projected benefits:NA
10.Effect of the current change on shareholder equity:NA
11.Abstract of the original lead underwriter's appraisal opinion:NA
12.Any other matters that need to be specified:None.