Hangzhou Dadi Haiyang Environmental Protection Co., Ltd. announced a private placement to issue A shares, with a par value of CNY 1 per share on January 21, 2022. The transaction will include participation from no more than 35 qualified investors. The pricing reference date will be the first day of issuance.

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 at the seventh meeting of the second board of directors and still needs to be approved at the general meeting of shareholders, Shenzhen Stock Exchange and China Securities Regulatory Commission.