Guangdong Chant (Group) Xiongxian Thermal Power Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 177.4 million on September 25, 2023. The transaction will include participation from returning investor Guangdong Chant Group Inc. to retain its 100% stake holding in the company. The transaction has been approved in the 6th session of the investor?s 6th directorate.

Post the transaction, out of the CNY 177.4 million, CNY 1 million will go to the registered capital of the company and the registered capital of the company will increase from CNY 28 million to CNY 29 million, and CNY 176.4 million will go to the capital reserve of the company and the capital reserve of the company will increase to CNY 176.4 million.