Jiuzhou Environment Energy Technology Group Co., Ltd. announced a private placement of common shares for gross proceeds of not more than CNY 100 million on June 9, 2021. The transaction will include participation from returning investor Harbin Jiuzhou Group Co.,Ltd. to retain its 100% stake in the company. The transaction has been approved in the sixteenth meeting of the investor's seventh board of directors and still needs to be submitted to the investor's shareholders meeting for deliberation.

Post the transaction, the registered capital of the company will increase from CNY 400 million to CNY 500 million.