Guangdong Xinhui Meida Nylon Co., Ltd. announced a private placement of not exceed 158,441,886 shares at a price of CNY 3.14 per share for gross proceeds of no more than CNY 497,507,522.04 on August 5, 2021.The transaction will include participation from Fujian Liheng Investment Co., Ltd. The share shall not exceed 30% of the total share capital of the company. After the completion of the transaction, the shares shall not be transferred within 36 months from the date of completion of the issuance. The transaction has been approved by board of directors of the company in its second meeting of the company’s tenth board of directors, and requires the approval of the company’s general meeting of shareholders, the anti-monopoly review of the concentration of operators of the State Administration for Market Regulation and the approval of the China Securities Regulatory Commission before implementation.