LandOcean Energy Services Co.,Ltd. announced that it has entered into subscription agreement with Shanxi Shanneng Power Generation Co., Ltd. for a private placement of 213,633,977 shares at a price of CNY 3.39 per share for gross proceeds of CNY 724,219,182 on May 24, 2021. The transaction was approved in the 38th meeting of the company's fourth board of directors. The transaction is subject to approval from authorized state-owned assets, Shenzhen Stock Exchange, China Securities Regulatory Commission and company's shareholders.