Deyang Chuanfa Lomon New Materials Co., Ltd. announced a private placement of common shares with a capital increase price of CNY 1 per share for gross proceeds of CNY 1,400 million in a round of funding on October 25, 2022. The transaction will include participation from returning investor, Sichuan Development Lomon Co., Ltd. The investor will use its own funds and self-raised funds to carry out the capital increase in the company. After completion of the transaction, the registered capital of company will increase from CNY 100 million to CNY 1,500 million.

The transaction has been approved by the board of directors in its 31st meeting of the sixth session of the Board of Directors.