On June 4th, Dawn polymer issued an announcement that it intended to non-publicly issue A shares to no more than 35 specific objects including the controlling shareholder Dawn Group, and the raised funds will not exceed CNY851 million, of which the subscription amount of Dawn Group is not less than CNY50 million and not more than CNY100 million.

According to reports, the net proceeds after deducting the issuance costs will be used for the new biodegradable plastic (PBAT) project (Phase I), Dawn Southwest Headquarters Base Project (Phase I) and supplementary working capital. The fundraising project is carried out around Dawn's main business with good market development prospects and economic benefits, which is in line with the national industrial policy and Dawn's overall strategic plan.

The new biodegradable plastic (PBAT) project（The First Phase) is an important strategic layout of Dawn in response to the national environmental protection policy. It is good for Dawn's entry into the upstream biodegradable synthesis field, extends Dawn's industrial chain, enhances Dawn's competitiveness in the market, and further improves Dawn's sustainable profitability. Dawn Southwest Headquarters Base Project (Phase I) plans to build a production base and R&D center for modified plastics, modified biodegradable materials and other products. After the project is completed, the company's production capacity can be expanded, the support for nearby customers can be realized, the cooperation with customers can be enhanced, and Dawn's existing business layout can be supplemented and improved.

"The implementation of fundraising projects is of great significance for Dawn to expand its business scale, enhance its operating capabilities & comprehensive competitiveness, and improve its position in the industry. It conforms to the company's strategic development plan," said Wang Youqing, deputy general manager and secretary of the board of directors of Dawn Polymer. This non-public issuance was another refinancing of Dawn after the issuance of CNY360 million convertible bonds. It will further expand financing channels, improve financing capabilities, optimize Dawn’s capital structure, promote capital operations into a virtuous circle, and lay the foundation for Dawn's sustainable development.