Hegang Leting Steel Co., Ltd. announced that it will receive CNY 9,250,000,000 in an equity round of funding on January 4, 2021. Post the closing of the transaction, registered capital of the company will increase by CNY 9,163,420,000, of which, returning investor Hbis Company Limited will invest CNY 5,000,000,000 to subscribe to newly added registered capital of CNY 4,953,200,000 and new investor Hebei Iron and Steel Industry Transformation and Upgrade Fund will invest CNY 4,250,000,000 to subscribe to newly added registered capital of CNY 4,210,220,000. The company's registered capital will increase from CNY 1,000,000,000 to CNY 10,163,420,000. Post the closing of the transaction, the stake held by Hbis Company Limited will decease from 100% to 58.5748% and Hebei Iron and Steel Industry Transformation and Upgrade Fund will acquire 41.4252% stake in the company. The transaction was approved in the 14th session of the 4th directorate of Hbis Company Limited. The transaction is subject to the approval of the shareholders meeting of Hbis Company Limited.