CECEP Environmental Protection Equipment Co.,Ltd. announced a private placement of common shares for gross proceeds of not more than CNY 3,000 million on June 5, 2022. The transaction will include participation from 35 qualified specific investors. The number of issued shares shall not exceed 30% of the share capital of the company after the issuance of shares.

The number of shares to be issued has been reviewed by the Shenzhen Stock Exchange and registered with the China Securities Regulatory Commission. The issuance of shares to specific investors to raise supporting funds adopts the method of price inquiry. The pricing base date is the first day of the issuance period of the issuance of shares to raise supporting funds, and the issuance price is not lower than the average price company's stock for 20 trading days before the pricing base date.

The transaction has been approved at the twenty-sixth meeting of the seventh board of directors and subject to approval board of directors again consider and approve the formal plan, State-owned Assets Supervision and Administration Commission of the State Council, the general meeting of shareholders, the Anti-Monopoly Bureau of the State, State-owned Assets Supervision and Administration Commission of the State Council, Shenzhen Stock Exchange and registered with the China Securities Regulatory Commission. The shares to be issued shall have a lock up period of 6 month from the closing of the transaction.