Nuode Investment Co.,Ltd announced that it has signed conditional effective shares subscription agreement for a private placement of not more than 340,000,000 shares of class A at a price of CNY 6.73 per share for gross proceeds of not more than CNY 2,288,200,000 on June 7, 2021. The transaction will include participation from returning investor Shenzhen Bangmin Venture Investment Co., Ltd. for 40,000,000 shares, along with Shenzhen Hongyuan New Materials Co., Ltd. for 150,000,000 shares and Shenzhen Bangmin New Materials Co., Ltd. for 150,000,000 shares. The shares carry a hold period of 18 months from issue date. The transaction has been approved by 40th meeting of the company's ninth board of directors and at the 18th session of the 9th supervisory board and is subject to approval of the company's general meeting of shareholders and China Securities Regulatory Commission.

On August 28, 2021, the company announced that the application for the transaction has been accepted by China Securities Regulatory Commission (acceptance number: 212236).