Fuda Alloy Materials Co., Ltd. announced a private placement of common shares for gross proceeds of not more than CNY 3,000,000,000 on October 19, 2021. The final issuance price must be approved by the China Securities Regulatory Commission and the board of directors of the company shall be authorized by the shareholders meeting in accordance with relevant laws, administrative regulations and the provisions of the regulatory documents will be determined through consultation with the independent financial adviser. The securities are subjected to hold period of six months. The transaction plan has been reviewed and approved at the 32nd meeting of the sixth board of directors of the company; the transaction plan was reviewed and approved by the counterparty's internal decision-making body.