Jidong Development Group Hebei Mine Engineering Co., Ltd. announced a placement of common shares for gross proceeds of CNY 40,000,000 on March 22, 2023. The transaction will include participation from returning investor, Tangshan Jidong Equipment and Engineering Co.,Ltd. continuing to retain its 100% stake. After the capital increase is completed, the registered capital of the company will increase from CNY 20,000,000 to 60,000,000.

The transaction has been approved at the 16th meeting of the 7th board of directors of Tangshan Jidong Equipment and Engineering Co.,Ltd. and does not need to be submitted to the general meeting of shareholders for consideration.