Hebei Huijin Group Co., Ltd. announced a private placement transaction of not more than 123,367,697 A common shares to be issued at a price of CNY 5.82 per share for gross proceeds of not more CNY 717,999,997 on June 17, 2022. The transaction will include participation from returning investor Handan Construction Investment Group Co., Ltd. After completion of the transaction, the investor will acquire 42.31% stake in the company. The transaction has been approved in the 24th meeting of the company's 4th directorate.

The transaction is subject to approval from the company's shareholders, the State-owned Assets Supervision and Administration, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission. The securities to be issued in the transaction will have a lock-up period of 36 months after issuance completion date.