China West Construction Group Co., Ltd announced that it will issue 280,016,005 A shares at a price of CNY 7 per share for gross proceeds of CNY 1,960,112,035 on December 21, 2021. The company has signed conditional effective stock subscription agreement in the transaction with Anhui Conch Cement Company Limited for 251,444,577 A shares for gross proceeds of CNY 1,760,120,039, representing 16.30% stake in the company and China Southwest Architectural Design and Research Institute Corp Ltd for 28,571,428 A shares. The shares cannot be transferred within 36 months from the issuance closing date.

The transaction has been approved by the board of directors of the company. The transaction is subject to approval of the state-owned assets supervision, approval procedures of the company's shareholders meeting and China Securities Regulatory Commission.