Hubei Guochuang High-tech Materials Technology Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 100 million on April 28, 2022. The transaction will include participation from returning investor Hubei Guochuang Hi-tech Material Co.,Ltd to retain its 100% stake in the company. Post closing, the registered capital of the company will increase from CNY 10 million to CNY 110 million.

The transaction has been approved at the twentieth meeting of the sixth session of the board of directors of Hubei Guochuang Hi-tech Material Co.,Ltd.