Tianjin MOTIMO Membrane Technology Co.,Ltd. announced a private placement to issue not more than 25,000,000 A shares for gross proceeds of not more than CNY 130,000,000 on April 18, 2023. The company shall issue shares at a price not less than 80% of the average price in the 20 trading days before the pricing reference date. The shares cannot be transferred within 6 months from the issuance closing date.

The transaction has been approved at the annual general shareholders meeting of 2021 and authorized the company?s directorate to implement a private placement of shares. The transaction has been approved at the 16th meeting of the 4th directorate of the company and subject to the approvals of the Shenzhen Stock Exchange and the China Securities Regulatory Commission.