Shuifa Energas Gas Co., Ltd. announced a private placement of shares at a price of CNY 6.08 per share for gross proceeds of CNY 110 million on June 2, 2022. The transaction will include participation from 35 qualified specific investors. The transaction is subject to lock-up period of six months.

The transaction has been approved in the seventh meeting of the fourth board of directors and the seventh meeting of the fourth board of supervisors. The transaction is subject to approval from the shareholders of the company in the general meeting, approval of relevant laws and regulations, also subject to approval from the Shanghai Stock Exchange and from China Securities Regulatory Commission.