On April 11th, Dawn Polymer issued an announcement that the Issuance Review Committee of the China Securities Regulatory Commission reviewed its non-public offering of shares on the same day. According to the review results of the meeting, Dawn's application for the non-public offering of shares was approved.

It was reported that the total amount of funds raised by Dawn Polymer would not exceed CNY 771.5 million, and the net amount of funds raised would be used for the 120,000 tons/year fully biodegradable plastic PBAT project (Phase I), the Southwest Headquarters Base of Dawn Polymer Materials Project (Phase I) and supplementary working capital.

The 120,000-ton/year fully biodegradable plastic PBAT project (Phase I) under construction is a strategic layout to implement the "carbon neutrality and emission peak" goal, which is conducive for the company to step into the upstream biodegradable synthesis field and further enhance its sustainable profitability. The Southwest Headquarters Base Project of Dawn Polymer Material (Phase I) plans to build a production base and R&D center for modified plastics and other products. After it is completed, it will expand Dawn's production capacity, realize the matching for nearby customers, enhance the cooperation stickiness with customers, supplement and improve the company's existing business layout.

Since it was listed in January 2017, Dawn Polymer has been awarded the Shenzhen Stock Exchange's A-level information disclosure rating for four consecutive years. According to the relevant regulations of the China Securities Regulatory Commission, when reviewing the applications of companies listed on the mainboard for the non-public offering of stocks, the newly accepted listed companies with an evaluation result of A in the last two consecutive information disclosure work evaluation periods will be quickly reviewed. Therefore, Dawn Polymer enjoyed the dividends of the CSRC's refinancing policy. It only took 72 days from the acceptance by the CSRC to the approval of the Issuance Review Committee, which greatly accelerated the non-public issuance process.

Wang Youqing, deputy general manager and secretary of the board of directors of Dawn, said that this non-public offering of shares was another refinancing event of Dawn after convertible bonds, which could significantly enhance the company's capital strength and comprehensive strength, and further enhance the company's core competitiveness. In the next step, Dawn Polymer will do a good job of share issuance within the validity period of the approval document, strive to complete fundraising efficiently, promote great development with large projects, lead high quality with high standard, further enhance the profitability and anti-risk ability of Dawn Polymer, and realize the healthy and sustainable development of the enterprise.