China Suntien Green Energy Corporation Limited announced that it has entered into a subscription agreement for a private placement of not more than 1,154,973,118 A shares of par value, CNY 1 for gross proceeds of not more than CNY 5,110,000,000 on December 21, 2020. The issue price shall not be lower than 80% of the average trading price of the company’s A shares on the 20 trading days prior to the pricing base date, and not less than the most recent audited amount of net assets per share attributable to ordinary shareholders of the parent company. The transaction will include participation from not more than 35 specific investors including returning investor, Hebei Province Construction & Investment Group Co., Ltd. for not more than 661,319,941 shares to hold not more than 50.70% stake, securities investment fund management companies, securities companies, trust companies, finance companies, insurance institutional investors and qualified foreign institutional investors satisfying the criteria set by the China Securities Regulatory Commission, and other eligible corporations, natural persons or other legal investment organizations qualified for the conditions required under relevant laws and regulations. The transaction has been approved at the 20th extraordinary meeting of the fourth directorate of the company and is still subject to approval at first extraordinary general meeting to be held on February 8, 2021 and the H-share class shareholders' meeting, authorized state-owned approval unit and China Securities Regulatory Commission. The transaction is valid for 12 months from the date of approval by the company's shareholders' meeting. The shares to be subscribed by Hebei Province Construction & Investment Group Co., Ltd. will be subject to a lock-up period of 18 months and shares to be subscribed by other investors will be subject to a lock-up period of 6 months from the date of issuance. On January 13, 2021, the company announced that it has received approval of the transaction from Hebei Province Construction & Investment Group Co., Ltd., in accordance with the measures for the supervision and administration of State-owned equity of listed companies.