NanJing Sanchao Advanced Materials Co.,Ltd. announced a private placement of not more than 9,382,329 A shares at a price of CNY 12.79 per share for gross process of CNY 119, 999,988 on July 15, 2022. The transaction will include participation from Zou Yuyao. The company and investor has signed conditional share subscription agreement. The transaction has been approved by sixth meeting of the third board of directors of the company, and it still needs to be reviewed and approved by the company's general meeting of shareholders, Shenzhen Stock Exchange and the China Securities Regulatory Commission. implement.

On December 1, 2022, Shenzhen Stock Exchange accepted the application with respect to the transaction.

On February 16, 2023, the company announced that the Shenzhen Stock Exchange reviewed the application and believed that the company met the issuance conditions. The company's issue of shares to specific targets still needs to be approved by the China Securities Regulatory Commission before it can be implemented.