Suli (Ningxia) New Material Technology Co., Ltd. announced that it has entered into a capital increase agreement with returning investors Suli Co., Ltd. and Oxon Asia srl for common shares for gross proceeds of CNY 270,000,000 on March 15, 2022. Post the closing, the registered capital of the company will increase from CNY 300,000,000 to CNY 430,000,000. Out of the total capital increase, Suli Co., Ltd. will subscribe for CNY 98,800,000 of the registered capital and Oxon Asia srl will subscribe for CNY 31,200,000 of the registered capital to retain their stakes.