Beijing Huayuanyitong Thermal Technology Co., Ltd. announced that it has entered into an share subscription agreement with Beijing Energy Investment Holding Co., Ltd. for private placement of not more than 60,840,000 shares at a price of CNY 7.04 per share for gross proceeds of not more than CNY 428,313,600 on February 11, 2022. The shares cannot be transferred within 36 months. The transaction has been approved in the 8th meeting of the company's 3rd directorate, and the 8th meeting of the 3rd supervisory board and is subject to the approvals of the its company's shareholders, the Anti-monopoly Bureau of the State Administration for Market Regulation, Authorized State-owned Assets Supervision and Administration Department, and the China Securities Regulatory Commission.