Xinjiang International Industry Co.,Ltd announced a private placement of not more than 100,000,000 A shares for gross proceeds of not more than CNY 300,000,000 on August 22, 2023. The transaction will include participation from not more than 35 investors. The issue price is not less than 80% of the average price in the 20 trading days before the pricing reference date.

The shares cannot be transferred within 6 months from the issuance closing date. The transaction has been approved at the 14th meeting of the 8th directorate and the 13th meeting of the 8th supervisory board of the company. The transaction still needs to be approved by the company?s directorate, the Shenzhen Stock Exchange and the China Securities Regulatory Commission.