Cheng County Qilianshan Cement Co., Ltd announced a private placement of shares for gross proceeds of CNY 290,000,000 on May 16, 2022. The transaction will include participation from returning investor Gansu Qilianshan Cement Group Co., Ltd. The transaction has been approved by the 2nd session of the investor's. The transaction is subject to approval from investor's 1st special shareholders' meeting for 2022. The registered capital will increase from CNY 427,986,800 to CNY 717,986,800.