Poly Plastic Masterbatch (SuZhou) Co.,Ltd announced a private placement of common shares for gross proceeds of not more than CNY 250.80 million on May 27, 2022. The transaction will include participation from not more than 35 specific investors. The issue volume for the transaction will not exceed 30% of total capital prior to this transaction.

The issue price will not be less than 80% of the average trading price during the 20 trading days prior to the pricing base date. The shares issued must not be transferred within 6 months after the issuance completion date. The transaction has been approved at the 9th session of the company's 2nd directorate, and still needs to be approved by the another directorate, in company's shareholders' meeting, by Shenzhen Stock Exchange and CSRC.