Super-Dragon Engineering Plastic Co., Ltd. announced that it has entered into an capital increase agreement to issue 1,665,125 common shares at a price of CNY 10.81 per share for gross proceeds of CNY 18,000,001.25 on May 30, 2018. The transaction will include participation from new investor Shenzhen Tongyi Industry Co., Ltd. (SZSE:300538). The transaction was approved by the board of directors of investor at its 23rd meeting of the 2nd directorate.

The company has registered capital of CNY 34,162,723. As part of the transaction, the investor will acquire 4.6476% stake in the company.