Beijing Lier High-temperature Materials Co.,Ltd. announced that it has entered into a share subscription agreement with Zhao Jizeng for private placement of not more than 250,000,000 A shares at a price of CNY 2.75 per share for gross proceeds of not more than CNY 687,500,000 on May 23, 2022. The shares cannot be transferred within 36 months from the issuance closing date.