Gansu Engineering Consulting Group Co., Ltd. announced a private placement of not more than 114,000,000 A shares having par value of CNY 1 each to not more than 35 investors for gross proceeds not exceeding CNY 760,000,000 on August 25, 2022. The pricing base date is the first day of the issue period, and the issue price is not less than 80% of the average price of the company's stocks 20 trading days before the first day of the issue period. The securities are subject to a lock-up period of 6 months.

The transaction has been approved 34th meeting of the 7th directorate of the company and is subject to the approval of the company's shareholders meeting, Authorized State-owned Assets Supervision and Administration Agency and the China Securities Regulatory Commission.