Huaming Power Equipment Singapore Co., Ltd. announced a private placement of common shares for gross proceeds of $19,800,000 on June 28, 2022. The transaction will include participation from returning investor Huaming Power Equipment Co.,Ltd. Post closing, the registered capital of the company will increase from $200,000 to $20,000,000. The transaction has been approved at the 24th meeting of the fifth board of directors of Huaming Power Equipment Co.

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