On September 16, Xiexin Technologies announced that it had entered into a subscription agreement with Wuji Capital, a Middle East investment institution, to place about 4.736 billion shares through directional additional issuance, raising HK $5.446 billion, equivalent to about RMB 5 billion. The funds raised
will be used to reserve funds for promoting structural adjustment of polysilicon production capacity, strengthen the second growth curve of silane gas business, and optimize the capital structure of the Company.