Fujian Supertech Advanced Material Co., Ltd. announced a private placement of A shares of par value of CNY 1 per share for gross proceeds of not more than CNY 300,000,000 on April 13, 2021. The issuance price shall shall not be lower than 80% of the average stock trading price of the company on the 20 trading days before the pricing base date. The transaction include participation from more than 35 investor.

The securities issued will be subject to hold period of 6 months from issuance. The transaction has been approved at the 10th meeting of 4th board of directors and is subject to 2020 annual general meeting of shareholders.