Mingguan New Material: Intends to increase the capital of the subsidiary by USD 20 million for the solar cell packaging film project

Mingguan New Material announced in the evening of July 31 that the company intends to increase its capital by US $20 million to Vietnam Mingguan, a wholly-owned subsidiary, through Mingguan International, which will be fully invested in Vietnam Mingguan Solar Cell Packaging Film Project . After the completion of the capital increase, the registered capital of Mingguan International and Vietnam Mingguan will be increased to HK $or VND equivalent to US $35 million. The capital increase was considered and approved at the thirteenth meeting of the fourth session of the board of directors of the Company. According to

the data, Mingguan New Materials (Vietnam) Co., Ltd. was established in April 2019 with a registered capital of 15 million US dollars. Its main business is the production and sales of new composite film materials such as solar cell backplane and photovoltaic module packaging film.