Shandong Yanggu Huatai Chemical Co., Ltd. announced a private placement of not more than 50,000,000 shares for gross proceeds of not more than CNY 300,000,000 on May 27, 2022. The issue price shall not be lower than 80% of the company's average stock price in the 20 trading days prior to the pricing benchmark date. The transaction will include participation from not more than 35 investors.

The shares issued will be subject to restriction period of 6 months from issuance. The transaction has been approved at the 7th meeting of 5th board of directors of the company, subject to approval from board of directors, Shenzhen Stock Exchange, and the China Securities Regulatory Commission.