Xinjiang International Industry Co.,Ltd announced a private placement of not more than 144,205,797 A shares at a price of CNY 6.68 per share for the gross proceeds of up to CNY 963,294,723.96 on October 21, 2022. The transaction will include participation from returning investor Jiangsu Rongneng Investment Development Co., Ltd. The controlling shareholder of the company. The shares it has subscribed will not be transferred within 36 months from the date of this non-public offering.

The shares do not exceed 30% of the company's total share capital before the issuance. The company and investor signed the "Share Subscription Agreement with Effective Conditions. Post the issuance Jiangsu Rongneng Investment Development Co., Ltd. will own 253,914,685 shares in the company, accounting for 40.63% stake.

The transaction has been approved by the Jiangsu Rongneng Investment Development Co., Ltd. for the acceptance of the applications.