On November 8, 2022, Jiangsu Sidike New Materials Science & Technology Co., Ltd. closed the transaction. The company has issued 20,088,388 A shares at an issue price of CNY 24.89 per share for gross proceeds of CNY 499,999,977.32 in the transaction. The transaction included participation China Great Wall Securities Co.,Ltd. for CNY 99,999,980.53, Shanghai Pinhua Investment Consulting Co., Ltd. for CNY 89,999,999.9, Guohai Innovation No.

1 Private Equity Investment Fund of the Securities Industry Supporting the Development of Private Enterprises, a fund managed by Sealand Innovation Capital Investment Management Co., Ltd. for CNY 29,999,991.67, Taikang Life Insurance Co., Ltd. investment-linked multi-strategy preferred investment account, a fund managed by Taikang Asset Management Co., Ltd. for CNY 25,999,994.44, Caitong Fund Management Co., Ltd. for CNY 23,399,985.04, Guangxi Guohai Zhenxuan No. 1 Investment Partnership (Limited Partnership), a fund managed by Sealand Innovation Capital Investment Management Co., Ltd. for CNY 19,999,986.15, Taikang Life Insurance Co., Ltd.-Traditional, a funds managed by Taikang Asset Management Co., Ltd. for CNY 19,799,995, Taikang Life Insurance Co., Ltd.-Dividends-Individual dividend products, a funds managed by Taikang Asset Management Co., Ltd. for CNY 16,999,994.45, Huaxi Yinfeng Investment Co., Ltd. for CNY 14,999,983.39, Taikang Life Insurance Co., Ltd. Allied Return Investment Account, a funds managed by Taikang Asset Management Co., Ltd. for CNY 12,999,997.22, Taikang Life Insurance Co., Ltd.-Investment-linked aggressive insurance products a funds managed by Taikang Asset Management Co., Ltd. for CNY 12,999,997.22, and individual investors, Jin Chuang for CNY 59,999,983.34, Li Tianhong for CNY 44,999,999.95, and Ji Jianming for CNY 12,999,997.22. The shares to be issued to shall have a lock up period of 18 months for Jin Chuang and other investors for 6 months from the closing of the transaction.

The registration and custody procedures for the company's newly issued shares will be completed as soon as possible at the Shenzhen Branch of China Securities Depository and Clearing Co., Ltd. After deducting the issuance expenses of RMB 9,122,802.68 (excluding value-added tax), the net amount of funds raised is RMB 490,877,174.64.