Sichuan Meifeng Polymer Material Technology Co., Ltd. announced that it will issue common shares to receive CNY 115,000,000 in a round of funding on May 14, 2022. After the completion, the registered capital will increase from CNY 125,537,602.34 to CNY 240,537,602.34. The transaction will include participation from returning investor Sichuan Meifeng Chemical Industry Co., Ltd. to retain 100% stake in the company.

The transaction does not need the approvals of the investor's directorate and shareholders.