Nanjing Cec Environmental Protection Group Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 95 million on October 22, 2022. After the capital increase is completed, the registered capital of company will increase from CNY 35 million to CNY 200 million. The transaction has been approved by the board in its 16th meeting of the 5th board of directors.

The transaction will include participation from returning investor, Cec Environmental Protection Co.,Ltd.