Henan Pingmei Shenma Nylon Material (Suiping) Co., Ltd. announced a private placement of common shares for proceeds of CNY 173.26 million on September 26, 2022. The transaction will include participation from returning investor Shenma Industrial Co., Ltd. to retain 100% stake. The transaction has been approved by the 7th meeting of the 11th board of directors of Shenma Industrial Co., Ltd., parent of the company.

The current registered capital of the company is CNY 190 million.