Harbin Hafei Aviation Industry Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 153,000,000 on July 29, 2021. The transaction will include participation from returning investor Avicopter Plc to retain its 100% stake in the company. The transaction has been approved in the 10th meeting of the 8th Board of Directors of the investor and does not need to be submitted to the general meeting of shareholders for review and approval.

Post the transaction, the registered capital of the company will increase from CNY 1,418,325,200 to CNY 1,571,325,200.