Yingkou Jinchen Machinery Co., Ltd. announced a private placement of not more than 34,850,400 A shares for gross proceeds of not more than CNY 1,000,000,000 on January 11, 2023. The transaction will include participation from no more than 35 subscribers. The pricing base date of this non-public offering is the first day of the issuance period, and the issue price shall not be lower than 80% of the company's average stock trading price in the 20 trading days before the pricing base date.

The number of shares that the company intends to issue shall not exceed 30% of the total share capital before the issuance. The transaction has been approved at twenty-fifth meeting of the company's fourth session of the board of directors and subject to review and approval of the company's shareholders' meeting and the approval of the China Securities Regulatory Commission. The shares subscribed shall not be transferred within six months from the date of completion of the issuance.

The validity period of the resolution for this transaction is 12 months from the date of deliberation and approval by the company's general meeting of shareholders.