Jiangsu Xingye Plastic Co.,Ltd. announced that it will issue common shares for gross proceeds of CNY 1,200,000,000 on January 17, 2023. The transaction will include participation from returning investor, Jiangsu Sanfame Polyester Material Co.,Ltd. The transaction has been approved at the 22nd session of the company?s 10th directorate and the 17th session of the company?s 10th supervisory board. Out of total of CNY 1,200,000,000, CNY 20,000,000 will be included in the registered capital, and the remaining CNY 1,180,000,000 will be included in the capital reserve.