Guangdong Sitong Ceramics Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 80 million on October 27, 2021. The transaction will include participation from returning investor Guang Dong Sitong Group Co.,Ltd. As a result, company's registered capital will increase from CNY 10 million to CNY 90 million. The transaction has been approved at the ninth meeting of the fourth board of directors of Guang Dong Sitong Group Co.,Ltd.