Hui Lyu Ecological Technology Groups Co.,Ltd. announced a private placement of not more than 100,000,000 A shares for gross proceeds of not more than CNY 348,000,000 on December 21, 2021. The issue price will be not less than 80% of the average price of the company's stock 20 trading days before the first day of the issue period. The transaction will include participation from not more than 35 special investors. The shares issued will be subject to restriction period of 6 months. The transaction has been approved at the 22nd meeting of 9th directorate of the company, and are subject to approval from company's shareholders meeting and the China Securities Regulatory Commission.

On February 18, 2022, the company announced that it has received China Securities Regulatory Commission Administrative License Application Receipt Acceptance No. 220273 after China Securities Regulatory Commission having reviewed and decided to accept the company's private placement application