Grandway Advised Shenling Environmental on the Issuance of Shares to Specific Investors

On November 2, 2022, Guangdong Shenling Environmental Systems Co., Ltd. (“Shenling Environmental”, stock code: 301018) was approved by Shenzhen Stock Exchange for the issuance of shares to specific investors (“Issuance”).

Shenling Environment is a modern enterprise with the service direction of artificial environment regulation, pollution control and energy utilization, and is committed to providing the overall solution of artificial environment regulation for the application scenarios of data service industry environment, industrial process production and research environment, professional special application environment and indoor environment of public buildings, etc. It is one of the major enterprises with large scale, advanced technology and complete products in the field of specialized air conditioning in China. It is one of the leading enterprises with the most dynamic development and competitive advantages in the field of specialized air-conditioning.

The total proceeds of this issue will not exceed RMB 800,000,000, which will be used for the intelligent manufacturing project of intelligent temperature control equipment in the new infrastructure field and the R&D and manufacturing base project of professional special environmental system (Phase II). The successful examination and approval of this issue project will help strengthen the comprehensive competitiveness of the company, enhance the market share of the company’s products and improve the overall profitability of the company.