China Resources and Environment Co.,Ltd. announced a private placement of not more than 416,597,934 A shares for gross proceeds of not more than CNY 948,354,900 on September 17, 2021. The issue price shall not be lower than 80% of the average price of the company?s stock trading on the 20 trading days before the pricing base date. The transaction will include participation from not more than 35 specific investors. The transaction has been approved at the 58th meeting of the 7th board of directors and at the 7th board of supervisors. The securities to be issued are subject to a hold period of 6 months. The transaction is subject to the approval of the All-China Federation of Supply and Marketing Cooperatives, the company?s general meeting of shareholders, and the approval of the China Securities Regulatory Commission.