Cangzhou Mingzhu Plastic Co., Ltd announced a private placement of not more than 425,377,259 shares for not more than CNY 1,375,150,000 on October 21, 2021. The issue price will not be less than 80% of the average price in the 20 trading days before the pricing reference date to not more than 35 investors. The transaction has been approved in the 5th meeting of the company's 7th directorate and is subject to the approvals of the company's shareholders and the China Securities Regulatory Commission.

The shares cannot be transferred within 6 months from the issuance closing date.