Jinduicheng Molybdenum Co., Ltd. announced a private placement of not more than 480,000,000 Ashares for gross proceeds of not more than CNY 1,900,000,000 on May 5, 2022. The transaction will include participation from not more than 35 investors. The issuance price will be not less than 80% of the average price in the 20 trading days before the pricing reference date.

The transaction has been approved in the 31st meeting of the company's 4th directorate, and is subject to the approvals of the shareholders and the China Securities Regulatory Commission. The shares cannot be transferred within 6 months from the issuance closing date.