Naipu Mining Machinery Co., Ltd. announced a private placement of not more than 31,502,812 A shares for gross proceeds of not more than CNY 420,000,000 on April 26, 2023. The transaction will include participation from not more than 35 investors. The issue price will not be less than 80% of the average price in the 20 trading days before the pricing reference date.

The transaction has been approved at the 3rd Meeting of the 5th Directorate and the 3rd Meeting of the 5th Supervisory Board and is subject to the approvals of the company's shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission. The securities have a hold period of 6 months from the issuance closing date.