Beijing Water Business Doctor Co., Ltd. announced a private placement of not more than 115,384,615 A shares at an issue price of CNY 10.40 per share for gross proceeds of not more than CNY 1,200,000,000 on September 10, 2021. The transaction will include participation from returning investor Wang Piaoyang. The shares cannot be transferred within 36 months from the issuance closing date. The company has signed a share subscription agreement with the investor. The transaction has been approved by the board of directors in its 22nd meeting of the company’s 4th directorate and the 21st meeting of the 4th supervisory board and is subject to the approvals of the company’s shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.