XCMG Fire Safety Equipment Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 400 million on June 17, 2022. The transaction will include participation from returning investor XCMG Construction Machinery Co., Ltd. to maintain 100% stake in the company. The transaction was approved at the 62nd meeting (provisional) of the 8th board of directors of XCMG Construction Machinery Co., Ltd.