Zhejiang Zhongli Synthetic Materials Technology Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 200,000,000 on June 22, 2022. The transaction will include participation from returning investors Zhejiang Zhongcheng Packing Material Co., Ltd. for CNY 113,340,000, Chen Dakui for CNY 56,000,000, Han Bingyong for CNY 26,660,000, Gu Hanjin for CNY 4,000,000. The transaction has been approved at the 11th meeting of the 5th supervisory committee of Zhejiang Zhongcheng Packing Material Co., Ltd.