Guangzhou Development New Energy Co., Ltd. announced that it will issue 1,340 million shares for gross proceeds of CNY 1,613,360,000 on June 28, 2021. The transaction included participation from returning investors Guangzhou Development Group Incorporated will subscribe for 1,206 million shares and Guangzhou Development Asset Management Co., Ltd. subscribe for 134 million shares. The transaction was approved in its 30th meeting of the 8th board of directors of the investor. After transaction the companys shares increases from 1.66 billion shares to 3 billion shares. The investors hold 90% and 10% of equity prior the transaction and share holding remain unchanged after transaction. The company will take CNY 1,340 million to share capital and CNY 273.36 million to capital reserve.