Shanxi Tond Chemical Co., Ltd. announced a private placement transaction that it will issue minimum of 10,000,000 A shares and maximum of 55,000,000 A shares at a price of CNY 6.03 per share for minimum gross proceeds of CNY 60,300,000 and maximum gross proceeds of CNY 331,650,000 on July 8, 2022. The transaction will included participation from returning investor Zhang Yunsheng, who will subscribe to all shares. As of June 30, 2022, Zhang Yunsheng directly and indirectly holds 80,057,500 shares, 19.93% of total share capital.

The shares cannot be transferred within 18 months from the issuance closing date. The transaction has been approved in the 22nd meeting of the company's 7th directorate, and is subject to the approvals of the company's shareholders and the China Securities Regulatory Commission.