Hualu Engineering & Technology Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 1,300,000,000 on January 25, 2019. The transaction will involve participation from returning investor China National Chemical Engineering Group Corporation. Post the closing of the transaction, the registered capital of the company will increase from CNY 700,000,000 to CNY 2,000,000,000 and the investor will continue to hold 100% stake in the company. The transaction was approved in the 25th meeting of the third directorate of the investor.