Taiyuan Chemical Industry Group Putian Agriculture Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 124,00,000 on June 28, 2021. The transaction included participation from Shanxi Huayang New Material Co.,Ltd., Taiyuan Chemical Industry Group Co., Ltd, which would retain their existing stakes of 30% and 70% respectively. The transaction was approved by the board of directors in its seventh meeting of the seventh board of directors of Shanxi Huayang New Material Co.,Ltd. Pursuant to the transaction, the registered capital of the company will increase from CNY 1,000,000 to CNY 125,000,000.