Jiangsu Dongfang Jiutian New Energy Materials Co., Ltd. announced a private placement for the gross proceeds of CNY 189,200,000 on September 27, 2022. The transaction includes participation from returning investor, Zhenjiang Dongfang Electric Heating Technology Co., Ltd. The transaction has been approved in the 10th meeting of the investor's 5th directorate and the 9th meeting of the 5th supervisory board.