Zhangpu Water Development Co., Ltd announced a private placement of common shares for gross proceeds of CNY 360,000,000 on December 29, 2021. The transaction will include participation from returning investor Fujian Zhangzhou Development Co.,Ltd to retain its 100% stake. Post-closing, its registered capital will increase from CNY 63,300,000 to CNY 423,300,000.

The transaction does not need the approvals of the investor's Directorate Shareholders' Approval.