Baotou Huazi Industry Co., Ltd announced a private placement of 300,000,000 ordinary A shares at an issue price of CNY 1 per ordinary A share for the gross proceeds of CNY 300,000,000 on April 28, 2023. The transaction included participation from not more than 35 special investors. The transaction has been approved by the board of directors of the company.

The lock-up period is 6 months.