Jiangsu Alcha Aluminium Group Co., Ltd. announced a private placement of not more than 237,199,191 A shares at a price of CNY 3.48 per share for gross proceeds of not more than CNY 825,453,185 on November 26, 2021. The transaction will include participation from returning investor Qilu Finance Investment Group Co., Ltd. The investor held 9% equity stake of the company; after completion, it will directly hold 29.90% equity stake. The share issued at a par value of CNY 1 per each share.

The company and investor signed the subscription agreement. The lock-up period is 36 months. The resolution for private placement of shares is valid for 12 months from the date of deliberation and approval by the shareholders' meeting.

The transaction has been approved by the 16th meeting of the 6th directorate of the company and are subject to the approval of the company's shareholders meeting, Jinan State-owned Assets Supervision and Administration Commission and the China Securities Regulatory Commission.