Jiangxi Xinzi New Materials Technology Co., Ltd. announced that it will issued 30,000,000 common shares at a price of CNY 1 per common share for a total gross proceeds of CNY 30 million on October 24, 2021. The transaction will include participation from Poly Plastic Masterbatch (SuZhou) Co.,Ltd for 75% stake. Upon closing, the registered capital of the company will increase from CNY 10 million to CNY 40 million. The transaction has been approved in the fourth meeting of the second board of directors an resolutions of the third meeting of the second board of supervisors.