Jiangsu Smith New Materials Technology Co., Ltd. announced that it will receive CNY 50,000,000 in an equity round of funding on October 17, 2023. The transaction will include participation from returning investor Shanghai Smith Adhesive New Material Co.,Ltd to retain the majority stake in the company. This has been approved in the 35th Meeting of the Company?s 3rd Directorate and the 26th Meeting of the 3rd Supervisory Board.

Post-completion of the transaction the registered capital of the company will increase from CNY 510,125,229 to CNY 560,125,229.