Caida Securities Co., Ltd. announced that it will issue not exceed 900 million A shares at a par value of CNY 1 per share for gross proceeds of not exceed CNY 5,000 million on December 26, 2022. The transaction included participation from not more than 35 special investors, including the controlling returning shareholder Tangshan Iron & Steel Group Co., Ltd. which current holds 32.44% company equity, all subscribe in cash. The pricing base date of this non-public offering is the first day of the issue period, and the issue price is not less than 80% of the average price of the company's stocks 20 trading days before the first day of the issue period.

The transaction was approved by board of directors in its eleventh meeting of the company's third board of directors, seventh meeting of the third board of supervisors and still need to be approved by the competent state-owned assets supervision unit, the company's general meeting of shareholders and the China Securities Regulatory Commission. The company and returning investor Tangsteel Group Co., Ltd. signed a conditional and effective non-public offering of shares subscription agreement. Tangsteel Group Co., Ltd. will subscribe no more than 311 million shares and no more than CNY 1,727 million.

Its lock up period is 36 months, and for the rest of the investors is 6 months. The resolution of this issuance is valid for 12 months from the date of deliberation and approval by the company's shareholders meeting.