Miracll Chemicals Co.,Ltd announced a private placement of A shares for gross proceeds of not more than CNY 300 million on March 12, 2022. The transaction included participation from not more than 35 investors. The issuance price will be not lower than 80% of the average price of the company's shares as of 20 trading days since issuance date.

The company will issue not more than 30% of the total share capital prior to the transaction. The shares subscribed by the relevant investors in this offering shall not be transferred within 18 months from the end of this offering. For the other investors, the lock-up period is 6 months.

The transaction was approved by the board of directors of the company at its fourth meeting of the third directorate and subject to 2021 Annual General Meeting.