Dongguan Retec New Material Technology Co., Ltd. announced that it has entered into a capital increase agreement to issue equity for proceeds CNY 100,000,000 on December 23, 2022. The transaction will include participation from returning investors J.Pond Precision Technology Co., Ltd. for CNY 76,982,854 to retain 76.98% stake, Li Zhaoping for CNY 8,553,651 to retain 8.55% stake and Gongqingcheng Ruiqi Investment Partnership Enterprise (Limited Partnership for CNY 14,463,495 to retain 14.46% stake. After the completion of the transaction, the registered capital will increase from CNY 35,072,678 to CNY 135,072,678.

The transaction has been approved by the 20th session of the J.Pond Precision Technology Co., Ltd.'s 1st directorate.