Far East Smarter Energy Co., Ltd. announced a private placement of not more than 665,805,823 A shares, par value, CNY 1 per share, for gross proceeds of not more than CNY 3,800,000,000 on October 27, 2022. The transaction has been reviewed and approved at the 30th meeting of the company's 9th board of directors. The transaction still needs to be submitted to the company's general meeting of shareholders for deliberation and can be implemented only after it is approved and approved by the China Securities Regulatory Commission.

The transaction will include participation from not more than 35 investors. The issue price of this non-public offering shall not be lower than 80% of the company's average stock trading price in the 20 trading days prior to the pricing benchmark date. The shares issued shall not be transferred within 6 months from the date of the end of this offering.

After obtaining the approval of the China Securities Regulatory Commission, the company will apply to the Shanghai Stock Exchange and the Shanghai Branch of China Securities Depository and Clearing Corporation Limited for handling matters such as stock issuance, registration, and listing.