Zhejiang Feida Environmental Science & Technology Co., Ltd. announced a private placement of not more than 164,221,401 shares for gross proceeds of not more than CNY 821,759,600 on December 15, 2021. The issue price for the raising of supporting funds will not be less than 80% of the average trading price during the 20 trading days prior to the pricing base date. The transaction will include participation from no more than 35 specific investors.

The transaction is approved in the third meeting of the 8th Board of Supervisors. The transaction is subject to approval of company's shareholders. The securities issued in the transaction shall have a lock up period of 6 months after listing date.