Ningxia Building Materials Group Co.,Ltd announced a private placement of common shares on April 28, 2022. The transaction will include participation from not more than 35 specific investors. The transaction has been approved by the 9th session of the company's 8th directorate, 9th session of China Building's 3rd directorate, and 4th session of China National Building Material Company Limited's 5th directorate.

The transaction still needs to be approved by State-owned Assets Supervision and Administration department, company's directorate and shareholders' meeting, China Building's directorate and shareholders' meeting, China National Building Material Company Limited's decision-making body, and CSRC.