GuoCheng Mining CO.,LTD announced a private placement transaction of not more than 100,000,000 A common shares for gross proceeds of not more than CNY 1,300,000,000 on July 22, 2022. The transaction will include participation from not more than 35 investors. Issue price for the shares to be issued in the private placement shall not be lower than 80% of the average stock price 20 trading days before the pricing reference date.

The securities to be issued in the transaction will have a lock-up period of six months after issuance completion date. The transaction has been approved in the 45th meeting of the company's 11th directorate, and is subject to the approvals of the company's shareholders and the China Securities Regulatory Commission.