Guangdong Fangyuan New Materials Group Co., Ltd. announced a private placement of A shares pre-plan for gross proceeds of not more than CNY 1,885,532,900 on June 9, 2023. This has been approved in the 18th Meeting of the 3rd Directorate and the 13th Meeting of the 3rd Supervisory Board. The issue price shall not less than 80% of the average price in the 20 trading days before the pricing reference date.

The transaction will include participation from not more than 35 investors. The shares issued cannot be transferred within 6 months from the issuance closing date. The transaction is subject to approval of company's shareholders, the Shanghai Stock Exchange, and the China Securities Regulatory Commission.