Yuancheng Environment Co., Ltd. announced a private placement of A shares for gross proceeds of CNY 397,246,500 on May 11, 2022. The transaction will include participation from no more than 35 specific subscribers. The number of shares to be issued shall not exceed 30% of the company's total share capital before the issuance at the issue price shall not be lower than the average stock trading price of the company in the 20 trading days before the pricing benchmark date. The transaction has been approved in the twenty-fifth meeting of the fourth session and twenty-third meeting of the third Board of Supervisors of the board of directors of company. The transaction is subject to approval from company's general meeting of shareholders and the board of directors, and China Securities Regulatory Commission. The shares shall not be transferred within 6 months from the date of the end of this offering.

On July 5, 2022, the company announced that China Securities Regulatory Commission has accepted the application materials for the administrative license for the non-public offering of stocks.