Hunan Huasheng Zhuzhou Cedar Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 30,000,000 on September 16, 2021. The transaction will include participation from existing investor Hunan Huasheng Group Corporation for CNY 20,000,000 and Hunan Huasheng Group Corporation for CNY 10,000,000. The raised proceeds, of which 10662400 yuan is added to the registered capital and 19337600 yuan is into capital reserve. As a part of the transaction, the company’s registered capital will increase from CNY 196,248,200 to CNY 206910600. Pursuant to the transaction, Hunan Huasheng Group Corporation stake will increase from 18.51% to 19.27%, Hunan Huasheng Co.,Ltd stake will be changed from 81.49% to 80.73%,. The transaction has been approved at the 8th meeting of the 8th Board of Directors and at the 6th meeting of the 8th Board of Supervisors and does not need to be submitted to the company’s shareholders meeting for deliberation.