Sichuan XFH New Energy Materials Co., Ltd. announced a placement of common shares for aggregate gross proceeds of CNY 250 million on October 24, 2022.The transaction will include participation from Fujian Shengqing New Material Technology Co., Ltd. and returning investor, Shenzhen XFH Technology Co.,Ltd. The transaction has been approved at the eighth meeting of the third board of directors and the eighth meeting of the third board of supervisors of Shenzhen XFH Technology Co.,Ltd and does not require approval from general meeting of shareholders.