Shuifa Energas Gas Co., Ltd. announced a private placement of aggregate gross proceeds of not more than CNY 300 million on March 20, 2023. The company shall issue shares at a price not less than 80% of the average price in the 20 trading days before the pricing reference date. The transaction will include participation from no more than 35 investors.

The shares subscribed by the issuers shall not be transferred within 6 months from the date of completion of the issue. The transaction has been approved by the eleventh meeting of the fourth session of the board of directors of the company.