CCCC Tianhe Machinery and Equipment Manufacturing Co., Ltd. announced private placement of common shares for gross proceeds of CNY 134,000,000 on February 28, 2023. The transaction will include participation from returning investor China Communications Construction Company Limited. Post completion of the transaction, CNY 86,112,400 will go to registered capital, and its registered capital will increase from CNY 1,191,302,400 to CNY 1,277,414,800.

Post-closing the transaction, investor's holdings in the company will decrease from 100% to 93.26% and direct holdings will decrease from 87.41% to 81.52%. The transaction has been approved by the board of directors of the investor in the 15th Meeting of the Company's 5th Directorate and does not need the Shareholders Approval.