Hangzhou Flariant Technology Co., Ltd announced a private placement of common shares for gross proceeds of CNY 30 million on November 10, 2021. The transaction will include participation from returning investor Hangzhou Flariant Co., Ltd. The transaction has been approved in the 12th meeting of the first board of directors and the sixth meeting of the first board of supervisors and is subject to approval from shareholders. Post the closing, the registered capital of the company would be CNY 100 million.