Beijing SPC Environment Protection Tech Co., Ltd. announced a private placement of not more than 421,116,323 A shares for gross proceeds of not more than CNY 2,720,000,000 on June 10, 2022. The transaction will include participation from not more than 35 specific investors, including securities investment fund management companies, securities companies, trust companies, finance companies, insurance institutional investors, and qualified foreign institutional investors. All the shares issued shall not be transferred within 6 months from the date of the end of the issuance.

The transaction has been approved at the 39th meeting of the fifth session of the board of directors of the company, and are still subject to the approval of the authorized state-owned assets examination and approval unit, the deliberation and approval of the general meeting of shareholders of the company, and the approval of the China Securities Regulatory Commission.