WPG (Shanghai) Smart Water Public Co., Ltd. announced a private placement of 127,788,106 A shares for gross proceeds of not more than CNY 1,300,000,000 on June 28, 2021. The transaction will include participation from not more than 35 investors. The issue price will not be less than 80% of the average price in the 20 trading days before the pricing reference date.

The company will issue not more than 30% of total share capital. The transaction has been approved in the 25th meeting of the company's 2nd directorate and is subject to the approvals of its shareholders and the China Securities Regulatory Commission. The shares cannot be transferred within 6 months from the closing date.

At present, the total share capital of the company consists of 425,960,355 shares.