Henan Yuneng Holdings Co.,Ltd. announced a private placement to issue not more than 457,734,399 shares for the gross proceeds of not more than CNY 2,000,000,000 on December 29, 2023. The transaction will include participation from no more than 35 investors. The shares to be issued shall have a hold period of 6 months from closing of the transaction. The transaction has been approved by the 8th Meeting of the Company?s 9th Directorate and is subject to the approvals of the Company?s Shareholders, the competent state-owned assets administration department or its authorized institution, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.

On January 15, 2024, the company announced that the transaction has been approved by the Henan Investment Group Co.,Ltd.