Recently, the company successfully raised 400 million yuan through issuing stocks to specific targets, fully raising funds and successfully achieving the issuance target.

The issuance of stocks to specific targets has received widespread attention from the capital market and has received subscription quotes from multiple investors, with a subscription multiple of 3.41 times and a premium of 10.62% over the base price. The controlling shareholder of the company, Tongling Dajiang Investment Holdings Co., Ltd., participated in the subscription, and its shareholding ratio increased from 19.79% before this issuance to 20.73%, fully demonstrating the recognition of the investment value of the company by the controlling shareholder and the capital market, as well as their confidence in the future development of the company.

The refinancing work was efficiently promoted through the joint efforts of intermediary agencies and various units and departments of the company. The project was launched in August 2022, and the relevant application materials were officially accepted by the China Securities Regulatory Commission on December 5, 2022. In February of this year, in accordance with the requirements of the comprehensive registration system reform, the company reapplied to the Shanghai Stock Exchange. On May 18, 2023, the Shanghai Stock Exchange Listing Review Center approved the company's application to issue stocks to specific targets. On July 12, 2023, the company received approval from the China Securities Regulatory Commission to register and completed the issuance work in just one month.

The funds raised from this stock issuance will be used for the "Ultra Thin Film Material Project for New Energy" and "Supplementary Working Capital". At present, the first production line of this fundraising project has been basically installed and is undergoing testing preparation. The second production line of the project will also be put into trial production at the end of next year.

The successful implementation of issuing stocks to specific targets will further enhance the company's capital strength, optimize its film product structure, consolidate its market position in the new energy film industry, and enhance its competitive advantage and profitability.