Xingyuan Environment Technology Co., Ltd. announced that it will issue not more than 466,142,194 A shares at a price of CNY 3.07 per share for gross proceeds of not more than CNY 1,431,056,500 on November 14, 2020. The transaction will include participation from existing investor New Hope Investment Group Co., Ltd. for 49,944,297 shares and new investor 416,197,897 shares. The company has signed a share subscription agreement with the investors. The shares issued are subject to restriction period of 36 months from closing of the transaction. The transaction has been approved at 19th meeting of 4th board of directors and is subject to approval from shareholders, Shenzhen stock exchange and the China Securities Regulatory Commission.