Suli (Ningxia) New Material Technology Co., Ltd. announced that it will receive gross proceeds of of CNY 140,000,000 on May 30, 2022. The transaction will include participation from returning investors, Suli Co., Ltd. for CNY 106,400,000 to retain 76% stake of which CNY 53,200,000 is included in paid-in capital and the rest is included in capital reserve and Oxon Asia srl for CNY 33,600,000 to retail 24% stake of which CNY 16,800,000 is included in the paid-in capital and the rest is included in the capital reserve. The proceeds out of which CNY 140,000,000 is included in the paid-in capital and rest is included in capital reserve.

After the completion, the registered capital of the company will increase from CNY 430,000,000 to CNY 500,000,000. The transaction has been approved at the 4th meeting of the 4th board of directors.