Xinxiang Xinglu Water Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 90,000,000 on August 10, 2022. The transaction will involve participation from existing investor, Xinxiang Chemical Fiber Co., Ltd. and will retain its 100% stake in the company. The transaction has been approved by the board of directors of the parent of the company at its 24th meeting of the 10th Board of Directors.