Xiamen Yanjan New Material Co., Ltd. announced that it will issue A shares for gross proceeds of no more than CNY 300 million on April 11, 2023. The transaction will include participation from no more than thirty-five specific investors. The issue price shall not go lower than 80% of the average price of the shares of the company 20 trading days prior to the first day of issuance.

The securities will have a hold period of eighteen months. The transaction has been approved in the fourteenth meeting of the third board of supervisors.