Haili Guixi New Material Technology Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 100,646,000 on June 20, 2022. The transaction included participation from returning investor Hunan Haili Chemical Industry Co., Ltd. to retain its 77.42% stake in the company. Post closing, the registered capital of the company will increase from CNY 62,000,000 to CNY 192,000,000.

The transaction has been approved at the 25th meeting of Hunan Haili Chemical Industry Co., Ltd. 9th directorate.