HeBei Jinniu Chemical Industry Co.,Ltd announced a private placement of not more than 130,000,000 A shares for gross proceeds of not more than CNY 889,000,000 on July 9, 2021. The transaction will include participation from not more than 35 specific investors. The transaction has been approved at the 19th meeting of the eighth session of the company's board of directors, the 13th meeting of the 8th board of supervisors of the company and at the eighth meeting of the seventh board of directors held by Jizhong Energy Group Co.,Ltd. The transaction is subject to approval of company shareholder and China Securities Regulatory Commission. The price of shares to be issued will be not lower than 20 trading days before the pricing benchmark date. The securities to be issued will have a hold period of 6 months from closing.