Guangdong Huate Gas Co., Ltd announced a private placement to issue A shares for the gross proceeds of CNY 300,000,000 on April 10, 2024. The pricing base date for the issuance of RMB ordinary shares (A shares) is the first day of the issuance period, and the issuance price is no less than 80% of the average stock trading price in the 20 trading days before the pricing base date. Stocks issued to specific subscribers shall not be transferred within six months from the date of completion of issuance.

The transaction has been approved 40th meeting of the third board of directors and The 32nd meeting of the third board of supervisors and still needs to be submitted to the company's shareholders' meeting for review and approval. The subscribers of this issuance should be no more than 35.