Crystal Clear Electronic Material Co.,Ltd announced a private placement for gross proceeds of not more than CNY 970,000,000 on March 8, 2023. The issue price of not less than 80% of the average price in the 20 trading days before the pricing reference date. The number share to be issued not more than 30% of total share capital of the company. The transaction will include participation from not more than 35 investors. The transaction has been approved 15th Meeting of the company's 3rd directorate and the 4th extraordinary shareholders meeting of 2022, and is subject to the approvals of the Shenzhen Stock Exchange and the China Securities Regulatory Commission. The shares to be issued cannot be transferred within 6 months from the issuance closing date.

On March 17, 2023, the company announced that Shenzhen Stock Exchange reviewed and decided to accept the company's private placement application.