Huzhou Jiuli Yongxing Special Alloy Material Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 269,873,000 on December 12, 2022. The transaction will include participation from returning investors, Yongxing Special Materials Technology Co.,Ltd for CNY 35,086,000 and Zhejiang JIULI Hi-tech Metals Co.,Ltd for CNY 234,787,000. After this capital increase is completed, the registered capital of the company will increase from CNY 200,000,000 to CNY 389,198,600.

The investment ratio of Yongxing Special Materials Technology Co.,Ltd will drop to 31.50%, and Zhejiang JIULI Hi-tech Metals Co.,Ltd will increase to 68.50%. The transaction has been approved by the board of directors of Zhejiang JIULI Hi-tech Metals Co.,Ltd. in the twentieth meeting of the sixth board of directors.