EVE Energy Co., Ltd. announced a private placement by signing share subscription agreement for 142,608,144 A shares with par value of CNY 1.00 per share at an issue price of CNY 63.11 per share for gross proceeds of CNY 9,000 million on June 7, 2022. The transaction will include participation from returning investor Xizang Billion Holdings Co.,Ltd. for 47,536,048 shares, for proceeds of CNY 3,000 million, returning individuals investors, Liu Jincheng for 31,690,698 shares, for proceeds of CNY 2,000 million, and Luo Jinhong for 63,381,398 shares, for proceeds of CNY 4,000 million. The transaction has been approved at the 49th meeting of the 5th directorate of the company, and subject to the approval of the company's shareholders meeting, Shenzhen Stock Exchange and the China Securities Regulatory Commission. The resolution of this issuance is valid for 12 months from the date of deliberation and approval by the company's shareholders meeting. The shares to be issued shall have a lock up period of 36 months from the closing of the transaction.

On July 5, 2022, the company announced that the application of issuance of specific objects has been accepted by Shenzhen Stock Exchange.