Ling Yun Industrial Corporation Limited announced a private placement of no more than 229,038,455 A shares for gross proceeds of CNY 1,380,000,000 on July 15, 2021. The transaction will include participation from not more than 35 investors including returning investors Hebei LingYun Industrial Group Co., Ltd. for CNY 350,000,000 and North Industries Group Investment Management Company Ltd. for CNY 150,000,000. The transaction has been approved at the 21st meeting of the seventh board of directors and fourteenth meeting of the seventh board of supervisors of the company.

The transaction still needs to be approved by the state-owned assets authorities, approved by the company's general meeting of shareholders, and approved by the China Securities Regulatory Commission. The company will pay issuance expenses in the transaction. The shares subscribed by Hebei LingYun Industrial Group Co., Ltd. and North Industries Group Investment Management Company Ltd. have a lock up period of 18 months, and the shares subscribed by other shareholders will have a lock up period of 12 months.