Sichuan Wanpeng Times Technology Co., Ltd. announced that it has signed an agreement to issue common shares for gross proceeds of CNY 100 million on January 8, 2024. The transaction will include participation from returning investors, Guizhou Chanhen Chemical Corporation for CNY 30 million to maintain its stake of 30%, Sichuan Lanjian Investment Management Co., Ltd. for CNY 30 million to maintain its stake of 30%, Yantai Pengyun No. 1 Investment Center (Limited Partnership) for CNY 30 million to maintain its stake of 30% and individual investor, Chen Yong for CNY 10 million to maintain its stake of 10%.

The transaction has been approved at the 35th session of Guizhou Chanhen Chemical Corporation's third directorate. Within 15 days after the completion of industrial and commercial change registration procedures, 60% of the capital contribution amount must be paid and the remaining capital contribution shall be paid within 180 days after completing the industrial and commercial change registration procedures.