Kaili Catalyst & New Materials Co.,Ltd. announced a private placement of not more than 15,000,000 A shares for gross proceeds of not more than CNY 1,075,000,000 on February 6, 2023. The transaction will include participation from not more than 35 investors. The shares to be issued shall not be transferred within 6 months from the date of the completion of the issue.

The transaction has been approved at the eighth meeting of the third board of directors and the seventh meeting of the third board of supervisors of the company. The transaction still needs to be approved by the state-owned assets supervision and administration department or its authorized unit, by the company?s shareholders, the Shanghai Stock Exchange, and the China Securities Regulatory Commission.