Hefei Honglu Building Materials Co., Ltd. announced a private placement of common shares for the gross proceeds of CNY 138,880,000 on January 17, 2023. The transaction will include participation from returning investor Anhui Honglu Steel Construction(Group) CO., LTD. The transaction has been approved in the 37th Meeting of the Company?s 5th Directorate and does not need the shareholder's approval. The registered capital of the company will increase from CNY 20,000,000 to CNY 158,880,000.