Beijing Jingran Lingyun Gas Equipment Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 44,000,000 on October 22, 2021. The transaction will include participation from returning investors Ling Yun Industrial Corporation Limited for CNY 22,000,000 to retain its 50% stake and Swiss George Fischer for CNY 22,000,000 to retain its 50%. The transaction has been reviewed and approved at the twenty-third meeting of the seventh board of directors of Ling Yun Industrial Corporation Limited.