Chengdu Xiling Power Science & Technology Incorporated Company (SZSE:300733) announced a private placement of not more than 11,792,452 common shares at a price of CNY 12.72 per share for gross proceeds of not more than CNY 149,999,989 on September 14, 2020. The transaction will include participation from Wei Xiaolin. The company has signed an agreement with the investor. The shares issued are subject to restriction period of 36 months from issuance. The transaction has been approved at the seventh meeting of the third board of directors, and is subject to approval from the shareholders of the company, Shenzhen Stock Exchange and the China Securities Regulatory Commission.