Hubei Yihua Songzi Fertilizer Industry Co., Ltd. announced a private placement of 384,322,751 common shares at an issue price of not less than CNY 1.4048 per share for gross proceeds of not less than CNY 539,896,600.6048 on January 28, 2022. The transaction was approved by the board of directors of Hubei Yihua Chemical Industry Co., Ltd. at its fifty-third meeting of the ninth directorate. Post to the closing, the investor will acquire 49% stake in the company.