Yunnan Energy New Material Co., Ltd. announced a private placement of 267,721,996 shares A common shares for gross proceeds of CNY 12,800,000,000 on November 21, 2021. The transaction will involve participation from not more than 35 investors. The issue price will not be less than 80% of the average trading price of the company's A share during the 20 trading days prior to the pricing base date. The issue volume for the transaction will not exceed 30% of the company's total capital prior to this transaction. The shares subscribed by the investors in the private placement must not be transferred within six months after the issuance completion date. This transaction was approved at the 38th meeting of the fourth board of directors of the company. The transaction still need approval from shareholders' meeting and China Securities Regulatory Commission.

On February 8, 2022, the company announced that it has received China Securities Regulatory Commission Administrative License application acceptance form issued by the China Securities Regulatory Commission with respect to the transaction via acceptance serial number: 220232.