Shanghai HIUV New Material Technology Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 30 million on January 19, 2022. The transaction included participation from returning investor Shanghai HIUV New Materials Co.,Ltd to retain its 100% stake in the company. The transaction has been approved at the 19th meeting of the third board of directors of Shanghai HIUV New Materials Co.,Ltd, and still needs to be submitted to the general meeting of shareholders for consideration.