Tianjin Youfa Steel Pipe Group Sales Co., Ltd. announced that it will issue 41,600,000 common shares at an issue price of CNY 1.4355 per share for proceeds of CNY 59,716,800 in a round of funding on March 28, 2023. The transaction will include participation from returning investors Tianjin You Fa Steel Pipe Group Stock Co., Ltd. for 28,253,600 shares; Li Wenhao for 3,771,200 shares; Li Maoying for 1,885,600 shares; Chen Liang for 1,885,600 shares; Chen Zhuo for 1,472,000 shares; Zhou Jiawei for 148,000 shares; Dong Guowei for 948,000 shares; Song Luan for 948,000 shares; Zhang Qiusi for 948,000 shares; Wang Tao for 748,000 shares; Ma Baoshuai for 148,000 shares; Zhang Chunyue for 148,000 shares; Xu Xin for 148,000 shares; and Shao Limei for 148,000 shares to retain 67.93%, 9.06%, 4.53%, 4.53%, 3.6%, 1.15%, 1.15%, 1.15%, 1.15%, 1.15%, 1.15%, 1.15%, 1.15%, 1.15% stakes respectively and other investors. After the completion of the transaction, the registered capital of the company will increase from CNY 110, 400,000 to CNY 152,000,000.

The transaction has been approved by the 31st meeting of the fourth board of directors of Tianjin You Fa Steel Pipe Group Stock Co., Ltd.