Guangzhou Kyin Development Co., Ltd. announced that it has entered into share subscription agreement for the private placement of 6,060,606 common shares at a price of CNY 3.30 per share for gross proceeds of CNY 20,000,000 on September 27, 2022. The transaction will include participation from Shanghai Taihe Water Environmental Technology Development Co.,Ltd. Post completion of this transaction, the shares held by the investor is proportion of its total share capital of 5.56%. The transaction has been approved in the general meeting of shareholders.