Jiangxi Yuean Advanced Materials Co.,Ltd. announced a private placement of not more than 7,388,462 A shares at a price of CNY 35.19 per share for gross proceeds of not more than CNY 260,000,000 on January 18, 2023. The shares have a par value of CNY 1 per share. The transaction will include participation from new investors Ganzhou Yuelong Investment Co., Ltd., Ganzhou Yuelong Biotechnology Development Co., Ltd., individual investors Li Shangkui and Li Bo.

The transaction has been approved at the 6th meeting of the 2nd board of directors of the company. The transaction is subject to approval from the shareholders of the company, the Shanghai Stock Exchange and the China Securities Regulatory Commission. All the shares issued in the transaction have a lock up period of 36 months from the date of issuance.