Chengdu Xinzhu Road&Bridge Machinery Co.,LTD announces private placement of 230,750,000 a shares at an issue price of CNY 3.88 per share for gross proceeds CNY 895,310,000 on November 23, 2023.The transaction included participation from Sichuan Development Rail Transit Industry Investment Co., Ltd. The transaction was approved in the 2nd meeting of the 8th directorate and in the 2nd meeting of the 8th supervisory board. The shares cannot be transferred within 36 months from the issuance closing date. The transaction is subject to the approvals of the Company?s Shareholders, the state-owned assets supervision and administration agency, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.