Runhe Materials announced that the company's board of directors reviewed and passed the bill to use no more than 340 million yuan of convertible corporate bonds to raise capital to provide loans to Runhe Materials Co., Ltd., a wholly-owned subsidiary, to implement a “high-end silicone new material project.” The loan interest rate is determined by negotiation between the two parties. The term is from the date of actual loan to the date the implementation of the fund-raising project is completed. The loan can be repaid early or renewed at maturity, and the loan progress will proceed according to the actual needs of the fund-raising project. The net amount of capital raised by this convertible bond was 364 million yuan, and the sponsor agency had no objection to this loan.

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