Jiangxi Keyuan Biological New Materials Co., Ltd announced a private placement of common stock for CNY 150,000,000 on May 31, 2021. The transaction included participation from new investor Levima Advanced Materials Corporation (SZSE:003022) to acquire 42.86% stake in the company. Post the transaction, the registered capital of the company will increase from CNY 118,000,000 to CNY 206,500,000. Of total proceeds, CNY 88,500,000 will go to registered capital and CNY 61,500,000 will go to capital reserve. The transaction was approved by the 18th session of the companys 1st directorate and the 12th session of the investor's 1st supervisory board meeting.