Xiamen Wanli Stone Stock Co.,Ltd announced that it has entered into a Share Subscription Agreement for a private placement of not more than 30,000,000 A Shares at an issue price of CNY 15.65 per share for the gross proceeds of up to CNY 469,500,000 on September 29, 2021. The transaction will include participation from new investor Xiamen Hafu Mining Co., Ltd, who will hold 13.04% stake in the company after the completion of the transaction. The shares cannot be transferred within 18 months from the issuance closing date.

The transaction has been approved in the 21st Meeting of the company's 4th Directorate, and is subject to the approvals of the company's Shareholders and the China Securities Regulatory Commission.