Chengdu Xiling Power Science & Technology Incorporated Company announced a private placement of not more than 51,419,811 A shares for the gross proceeds of up to CNY 480 million on November 22, 2021. The transaction will include participation from does not exceed 35 investors. The number of shares issued this time to specific targets is determined by dividing the total raised funds by the issuing price, and the number of shares issued does not exceed 30% of the company's total share capital before the issuance. The issuance price shall not be less than 80% of the average trading price of the company's stocks on the 20 trading days prior to the pricing base date. The transaction has been approved at the 21st meeting of the third board of directors of the company. The transection subject to reviewed and approved by the company's shareholders meeting, reviewed and approved by the Shenzhen Stock Exchange, and obtained the approval of the China Securities Regulatory Commission. The shares subscribed by the target of the issuance of stocks to specific targets shall not be transferred within 6 months from the date of the end of the issuance.

On June 2, 2022, the company announced that the shares issued in transaction are A shares with a par value of CNY 1.00 each.

On June 9, 2022, the company announced that the application for the issuance of shares to specific objects to be accepted by the Shenzhen Stock Exchange.