Jiangsu Heikki New Energy Co., Ltd. announced that it will issue 200 million shares at an issue price of CNY 1 per share for gross proceed of CNY 200 million in a of funding on November 10, 2021. The company entered in to purchase agreement. The transaction include participation from returning investors Jiangsu Baichuan High-Tech New Materials Co., Ltd for 74,450,000 shares for CNY 74,450,000, Xu Wei for 45,840,000 shares for CNY 45,840,000, Zhao Guoliang for 15,000,000 shares for CNY 15,000,000, Xia Mingfang for 12,000,000 shares for CNY 12,000,000, Shen Jianlin for 10,000,000 shares for CNY 10,000,000, Ren Yuanlin for 20,000,000 shares for CNY 20,000,000, Qian Xiaofeng for 7,200,000 shares for gross proceeds of CNY 7,200,000, Yin Zhonghu for 5,870,000 shares for CNY 5,870,000, Zhang Shufang for 1,000,000 shares for CNY 1,000,000, Wu Weiming for 3,000,000 shares for CNY 3,000,000, Kong Xiafeng for 4,000,000 shares for CNY 4,000,000, and Yu Feng for 2,000,000 shares for CNY 2,000,000. The investors hold 30.07%, 22.00%, 7%,6%, 5.17%, 4.67%, 3.60%, 2.93%, 2%,1.67%, 1.53%, 0.27% stakes respectively before the transaction. After the transaction they hold 31.58%, 22.16%, 7.11%, 6.00%, 5.13%,5.79%, 3.6%, 2.93%, 1.68%, 1.63%, 1.63%, 0.42% stake respectively. The subscribers will make capital contributions in cash, and the full payment must be completed in tranches within 3 months from the effective date of the signing of this agreement. The specific time limit for each payment is subject to the written payment notice issued by the company. The registered capital of the company increases from CNY 750 million to CNY 950 million after the transaction. The transaction was approved by the board of directors of the company in its 27th meeting of the fifth board of directors.