Suzhou Longjie Special Fiber Co., Ltd. announced a private placement of 21,276,595 A shares at a price of CNY 5.64 for the gross proceeds of CNY 119,999,995.8 on March 10, 2024. The transaction has been approved by the shareholders of the company in the 5th meeting of the 5th board of directors. The shares will have a lock up period of 18 months.

The transaction will include participation from individual investor, Zou Kaidong (general manager and director of the company).