Cangzhou Mingzhu Diaphragm Technology Co., Ltd. announced that it entered into purchase agreement, and will raise CNY 180.01 million in an equity round of funding on April 25, 2023. The transaction include participation from returning investor Cangzhou Mingzhu Plastic Co.,Ltd. The transaction was approved by the board of directors in its ninth meeting of the eighth board of directors and the sixth meeting of the eighth board of supervisors. The company will contribute CNY 76.6 million towards registered capital, and the remaining CNY 103.41 million is included in the capital reserve.

After the completion of this capital increase transaction, the registered capital of company will increase from CNY 550 million to CNY 626.6 million, of which the investor subscribed capital will be CNY 607.71 million, accounting for 96.99% stake, and other minority shareholders account for 3.01% stake. This agreement can be terminated with the unanimous consent of all parties, and neither party will have the right to claim compensation from the other party.