On June 11, 2020, Chongqing Three Gorges Water Conservancy and Electric Power Co., Ltd. (SHSE:600116) closed the transaction. The company has issued 64,432,989 shares at a price of CNY 7.76 per share for gross proceeds of CNY 499,999,994.64 in the transaction. The transaction included participation from Penghua Fund Management Co. Ltd. for 11,597,938 shares for CNY 89,999,998.88 and new investor Central Enterprise Poverty Area Industry Investment Fund Co., Ltd., a fund managed by SDIC Chuangyi Industry Fund Management Co., Ltd. for 52,835,051 shares for CNY 409,999,995.76 for 2.76% stake. The company has incurred issuance-related expenses of CNY 12,904,962.46 and received net proceeds is CNY 487,095,032.18 in the transaction. The registration procedures of the new shares have been completed at the China Securities Depository and Clearing Co., Ltd. Shanghai Branch.