Nanjing Hanrui Cobalt Co.,Ltd. announced a private placement of not more than 92,885,141 A shares for gross proceeds of not more than CNY 5,000,000,000 on February 10, 2023. The transaction will include participation from no more than 35 investors. After the completion of this issuance, the shares subscribed shall not be transferred within six months from the date of completion of this issuance.

The transaction has been approved at the twentieth meeting of the fourth board of directors of the company but still needs to be approved by the company's shareholders, Shenzhen Stock Exchange and China Securities Regulatory Commission.