Wuxi Acryl Technology Co Ltd

Acryloyl announced that the share transfer and private placement planned by its controlling shareholder and actual controller have made further progress, and trading will resume on July 6. On July 3, shareholders Zhu Xuejun, Cui Xiaoli, Zhu Meng, You Weimin, and Zhang Wenquan signed a share transfer agreement with Qingdao Huaxin Zhiji Investment Partnership, transferring a total of 16.9985 million shares to Huaxin Zhiji. After the transfer, Huaxin Zhiji will hold 17.4 percent of the listed company, becoming the second largest shareholder. On the same day, Acryloyl also signed an agreement with Huaxin Zhiji to issue no more than 12.215 million shares through a private placement, which Huaxin Zhiji intends to fully subscribe for in cash. Upon completion, Huaxin Zhiji is expected to hold no more than 26.57 percent of the listed company, while the combined stake of Zhu Xuejun and Cui Xiaoli is expected to drop to 21.24 percent. Through these transactions, Huaxin Zhiji will become the controlling shareholder of Acryloyl, and its actual controllers Xiao Di and Zheng Dong will become the actual controllers of the listed company. The private placement will raise no more than 375 million yuan, all of which will be used to supplement working capital to support the structural optimization of the polyether amine business and the market development of COC products. The actual controllers of Huaxin Zhiji have deep experience in the optics and semiconductor industries, and will provide industrial synergy support for the company's COC products to extend into optics, semiconductors, and other fields.