Jiangsu Em New Materials Co., Ltd. announce that it will receive CNY 225,000,000 in an equity round of funding on November 30, 2022. The transaction will include participation from returning investor, Sichuan Em Technology Co., Ltd. to maintain its 100% stake in the company. Post the closing the registered capital of the company will increase from CNY 360,000,000 to CNY 585,000,000.

The transaction has been approved in the thirty-first meeting of the fifth board of directors and the twenty-sixth meeting of the fifth board of supervisors and still needs to be approved by extraordinary general meeting of shareholders in 2022 for consideration and approval.