Private Placement (Form 8-K)

Item 3.02. Unregistered Sales of Equity Securities.

As detailed in Item 1.01 of the Current Reports on Form 8-K and Form 8-K/A filed by ZW Data Action Technologies Inc. (the "Company") with the SEC on January 7, 2025, May 14, 2025 and September 4, 2025, respectively, on October 1, 2025, in accordance with the securities purchase agreements entered into by the Company with the investors described therein, the Company issued a total of 608,800 restricted shares of common stock to the investors, including accredited and non-US persons and entities. The shares of common stock were sold for $2.10 per share with total gross proceeds from the transactions amounting to approximately $1,278,480.