Tangshan Youfa New Building Equipment Co., Ltd. announces a private placement of gross proceeds for CNY 1,400,000,000 on July 12, 2023. The transaction included the participation from returning investor Tianjin You Fa Steel Pipe Group Stock Co., Ltd. In prior, Tianjin You Fa Steel Pipe Group Stock Co., Ltd. subscribe for CNY 742,300,000, hold 74.23% stake and In post closing, subscribe for CNY 2,142,300,000, hold 89.262% stake. The company invest the entire amount of CNY 1,400,000,000.00 will be added to registered capital.

In current registered capital and ending registered capital is CNY 1,000,000,000.00 and CNY 2,400,000,000.00 respectively. The transaction has been approved by the company?s 4th directorate on its 36th meeting and does not require approval by the shareholders? meeting.