Qingdao Zhoushi Plastic Packaging Co., Ltd. announced that it will receive CNY 61,240,000 and signed the investment agreement with Qingdao Bailijia Economic Consulting Service Co., Ltd. on December 30, 2022. The transaction will include participation from returning investor Shandong Dawn Polymer Co.,Ltd. and Qingdao Bailijia Economic Consulting Service Co., Ltd. The company issued common shares in the transaction. The transaction has been approved in the twenty-ninth meeting of the fourth board of directors and does not need to be submitted to the company's general meeting of shareholders for consideration.

The registered capital of the company is CNY 10 million. Post the capital increase, Shandong Dawn Polymer Co.,Ltd. will hold 51% stake and Qingdao Bailijia Economic Consulting Service Co., Ltd. will hold 49% stake in the company, as of now holds 100% stake. As part of the transaction, CNY 10,408,200 will go into registered capital and CNY 50,831,800 the paid-in capital will be included in the capital reserve.