Wuxi Hongsheng Heat Exchanger Systems Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 100,000,000 on August 20, 2021. The transaction included participation from returning investor Wuxi Hongsheng Heat Exchanger Manufacturing Co., Ltd. to retain 100% stake in the company. The registered capital will increase from CNY 100,000,000 to CNY 200,000,000. The transaction has been approved in the 2nd meeting of the company’s 4th directorate meeting of the investor.