Wanwei Hi-Tech announced that it plans to issue A-shares to the controlling shareholder, Wanwei Group, with a total capital of no more than 2.3 billion yuan. After deducting issuance fees, it will be used for 200,000 tons/year ethylene functional polyvinyl alcohol resin project and a polyvinyl alcohol optical film project with an annual output of 30 million square meters for high-generation panels. The issuance constitutes a related transaction, and the shares purchased by Wanwei Group cannot be transferred within 3 years. The plan has been reviewed and approved by the board of directors. It still requires approval from state-funded enterprises, review and approval by the shareholders' meeting, review and approval by the Shanghai Stock Exchange, and reporting to the China Securities Regulatory Commission for registration.

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