Letong Chemical Co.,LTD announced a private placement of 49,317,147 shares at an issue price of CNY 6.59 per share for gross proceeds of not more than CNY 325 million on August 22, 2022. The transaction will include participation from returning investor, Shenzhen Dacheng Asset Management Co., Ltd. Theshares issued in the transaction will have a hold period of 36 months from the date of issuance.