Henan Huanghe Whirlwind Co., Ltd. announced a private placement of not less than 112,044,818 A shares and not more than 147,058,823 A shares at a price of CNY 7.14 per share for gross proceeds of not less than CNY 800,000,000 and not more than CNY 1,050,000,000 on April 6, 2022. The par value of ordinary A shares is CNY 1.00 per share. The transaction will included participation from Henan Huanghe Changsheng Holdings Co., Ltd. The issue price is not lower than 80% of the average stock trading price of the 20 trading days before the pricing benchmark date.

The upper limit of the number of shares in this non-public offering does not exceed 30% of the company's total share capital before this offering. The validity period of this issuance is 12 months from the date of deliberation and approval at the company's general meeting of shareholders. The transaction has reviewed and approved at the second extraordinary meeting of the eighth board of directors of the company held in 2022 and must be reviewed and approved by the company's general meeting of shareholders and approved by the China Securities Regulatory Commission.

The shares to be issued shall have a lock up period of 18 months from the closing of the transaction.