Jilin Chemical Fibre Stock Co.,Ltd announced a private placement of not more than 300,000,000 A shares for gross proceeds of not more than CNY 1,200,000,000 on November 3, 2021. The company will issue shares at a price 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 specific investors.

The subscription limit for each single investor and those acting in concert is 50,000,000 shares. All shares to be issued will be subject to a lock-up period of 6 months from the closing date. The transaction has been approved in the 23rd meeting of the 9th directorate of the company, and is subject to the approval of the Jilin Provincial State-owned Assets Supervision and Administration Commission and the company's shareholders meeting And the approval of the China Securities Regulatory Commission.