Weifang Yaxing Chemical Co., Ltd. announced a private placement of not more than 72,115,384 shares at CNY 4.16 per share for not more than CNY 300,000,000 on April 28, 2021. The transaction will include participation from existing investor, Weifang City Construction And Development Investment Group Co.,ltd. The transaction has been approved in the 3rd meeting of the company's 8th directorate and 2nd meeting of the 8th supervisory board and is subject to the approvals of the shareholders and the China Securities Regulatory Commission. The company and Weifang City Construction And Development Investment Group Co.,ltd. signed share subscription agreement.

The shares cannot be transferred within 36 months from the issuance closing date.