Quanzhou Ansheng Shipping Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 1,000,000,000 on December 14, 2021. The transaction will involve participation from existing investor, Antong Holdings Co., Ltd. Post-closing of the transaction, the investor will retain its 100% stake in the company. Post-closing, the registered capital of the company will increase from CNY 450,000,000 to CNY 1,450,000,000. The transaction has been approved by the sixth temporary meeting of the seventh board of directors in 2021 of Antong Holdings Co., Ltd.