688456.SH announced that the company held the 17th interim meeting of the first Board of Directors and the Seventh interim meeting of the first Board of Supervisors on December 14, 2021, and examined and passed the "motion on changing the main body of some fund-raising projects and increasing capital to wholly-owned subsidiaries for the implementation of fund-raising projects." It is agreed that the main body of the construction project of Youyan Powder Science and Technology Innovation Center will be changed from Beijing Youyan Powder New Materials Research Institute Co., Ltd. (PM Research Institute) to Youyan Powder material, and the other contents of the project will remain the same. it is also agreed that the company will use 60 million yuan to raise funds to the wholly-owned subsidiary Chongqing Youyan heavy Metallurgical New Materials Co., Ltd. ("Youyan heavy Metallurgical") to implement the "New Powder material Base Construction Project". Arrange the allocation of funds in batches according to the implementation progress of the project. After the completion of this capital increase, Youyan heavy Metallurgy is still a wholly-owned subsidiary of the company.