EGing Photovoltaic Technology Co.,Ltd. announced a private placement of not more than 352,000,000 A shares at a price of CNY 3.70 per share for gross proceeds of not more than CNY 1,302,400,000 on January 17, 2022. The transaction will include participation from specific subscriber existing investor Shenzhen Qinchengda Investment Management Co., Ltd. The company has signed a share subscription contract with the investor. The shares issued are subject to restriction period of 36 months from issuance. The transaction has been approved at the 10th meeting of 7th board of directors of the company, and is subject to approval from shareholders of the company and the China Securities Regulatory Commission.

On the same day, the company held its seventh Meeting of the seventh board of supervisors, in which related supervisors abstained from voting on this proposal, the board of supervisors could not reach a resolution. Therefore, this proposal was directly submitted to the general meeting of shareholders for deliberation.