Xiang Fenghua: Plans to raise no more than 600 million yuan through private placement, all of which will be used for the annual production of 93,000 tons of new energy battery cathode materials project.

Shangfenghua Announcement: The company plans to issue A shares to a maximum of 35 specific investors, raising a total of no more than 600 million yuan. After deducting issuance expenses, all funds will be used for the construction of a new energy battery cathode material project with an annual production capacity of 93,000 tons. The number of shares to be issued this time shall not exceed 30% of the total share capital before the issuance, i.e. up to 35.7431 million shares.