Tangshan Sunfar New Material Co., Ltd. announced that it will raise CNY 490 million in an equity round of funding on April 18, 2024. The transaction will include participation from returning investor, Tangshan Sunfar Silicon Industries Co.,Ltd., will held 93.19% post completion the transaction. The transaction has been approved in the 6th Meeting of the 5th Term of the Board of Directors held by the Company.

The matters regarding the capital increase fall within the approval authority of the Board of Directors of the Company and don?t need to be submitted to the Company?s shareholders? meeting. Post the completion of the transaction, the registered capital of the company will increase from CNY 210 million to CNY 800 million.