Tanghe Shidai Mining Industry Co., Ltd. announced that it will receive CNY 300 million in an equity round of funding through capital increase from retuning investor Inner Mongolia Xingye Mining Co., Ltd. to retain 100% stake in the company on December 1, 2022. After the completion of this capital increase, the registered capital of company will increase from CNY 433.8 million to CNY 733.8 million. The transaction is within the scope of authority of the board of directors, and no need to submit to the Inner Mongolia Xingye Mining Co., Ltd. general meeting of shareholders for consideration.