Farasis Energy (Gan Zhou) Co., Ltd. announced a private placement of not more than 140,000,000 A shares for gross proceeds of not more than CNY 5,200,000,000 on September 15, 2021. The company will issue shares at a price not less than 80% of the average price in the 20 trading days before the pricing reference date. The transaction will include participation from not more than 35 investors.

The shares cannot be transferred within 6 months from the issuance closing date. The transaction has been approved in the 33rd meeting of the its 1st Directorate and the 17th Meeting of the 1st Supervisory Board, and is subject to the approvals of the its shareholders, the Shanghai Stock Exchange, and the China Securities Regulatory Commission.