Guoneng Kehuan Wangkui New Energy Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 83,000,000 on July 5, 2021. The transaction will involve participation from returning investor Guodian Technology & Environment Group Corporation Limited for CNY 39,950,000 and new investor YanTai LongYuan Power Technology Co., Ltd. for CNY 43,050,000. The investors will make the payment within 30 days after receiving the payment request.

Post the closing, the registered capital will change from CNY 40,000,000 to CNY 123,000,000. Post the closing, Guodian Technology & Environment Group Corporation Limited holding ratio will change from 100% to 65% and YanTai LongYuan Power Technology Co., Ltd. will hold 35% stake. Within one month after the capital increase agreement took effect, the company shall complete the industrial and commercial change registration procedures for this capital increase.

The transaction has been approved by the second meeting of the fifth board of directors of YanTai LongYuan Power Technology Co., Ltd.