Ning Xia Yin Xing Energy Co.,Ltd announced a private placement of series A shares on October 11, 2021. The transaction will include participation from not more than 35 specific investors. The number of A shares to be issued under the issuance shall not exceed 30% of the total share capital of the company prior to the issuance and the issue price shall not be lower than 80% of the average trading price of the company's A shares for the 20 trading days immediately preceding the pricing benchmark date.

The transaction was approved by the 7th session of the company's 8th directorate. The transaction is subject to approval by company's directorate, company's shareholders', State-owned asset authority and China Securities Regulatory Commission. The shares subscribed in the transaction not be transferred within 6 months after issuance.