Hefei General Environmental Control Technology Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 120 million on June 6, 2022. The transaction will include participation from returning investor Sinomach General Machinery Science & Technology Co., Ltd. to retain its 100% stake in the company. Post closing, the registered capital of the company will increase from CNY 182 million to CNY 302 million.

The transaction has been approved at the fifteenth meeting of the seventh board of directors of Sinomach General Machinery Science & Technology Co., Ltd.