Dajin Heavy Industry Corporation announced a private placement of 166,699,200 A shares for gross proceeds of not more than CNY 5,100,000,000 on December 29, 2021. The issue price is not less than 80% of the average price in the 20 trading days before the pricing reference date. The transaction will include participation from not more than 35 investors.

The shares cannot be transferred within 6 months from the issuance closing date. The transaction has been approved by the 49th Meeting of the 4th Directorate and the 19th Meeting of the 4th Supervisory Board and is subject to the approvals of the Company's shareholders and the China Securities Regulatory Commission.