Shenghe Resources Holding Co., Ltd announced a private placement of not more than 106,000,000 A shares for gross proceeds of not more than CNY 1,367,703,800 on May 29, 2021. The transaction will include participation from not more than 35 investors. The issue price of shares shall not be less than 80% of the average price in the 20 trading days before the pricing reference date.

All securities to be issued cannot be transferred for a period of 6 months from the issuance date. The transaction has been approved at the 17th meeting of its 7th directorate of the company, and is subject to approval from company's shareholders and the China Securities Regulatory Commission.