Zhejiang Communications Construction Group Co.Ltd. announced a private placement of common shares for the gross proceeds of CNY 1,000,000,000 on June 27, 2023. The transaction will include participation from returning investor Zhejiang Communications Technology Co., Ltd. for CNY 999,900,000 and new investor Zhejiang Jiaoke Construction Investment Co., Ltd for CNY 1,000,000. The transaction has been approved in the twenty-fourth meeting of the eighth session of the board of directors of Zhejiang Communications Technology Co., Ltd. After the capital increase, the registered capital of the target company will be CNY 5,728,000,000.