Jiangxi Yongguan Technology Development Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 300,000,000 on May 13, 2021. The transaction will involve participation from existing investor, Shanghai Yongguan Adhesive Products Corp., Ltd. (SHSE:603681). Out of the total amount, the company will receive CNY 30,000,000 as part of registered capital and CNY 270,000,000 as part of capital reserve. Post-closing of the transaction, the registered capital of the company will increase from CNY 132,000,000 to CNY 162,000,000. Post-closing, Ningbo Thermal Power Co.,Ltd will continue to retain its 100% stake in the company. The transaction has been reviewed and approved at the 13th Meeting of the 3rd board of directors.