China Huaneng Group Clean Energy Technology Research Institute Co., Ltd. announced that it has entered into a Capital Increase Agreement for a private placement of common shares for gross proceeds of CNY 1,008,182,700 on June 22, 2021. The transaction will include participation from returning investors Huaneng Power International, Inc. (SEHK:902) for CNY 389,616,900, China Huaneng Group for CNY 249,728,500, North United Power Corporation for CNY 181,821,200, Huaneng Renewables Corporation Limited for CNY 5,194,900 and Huaneng Inner Mongolia Eastern Energy Co., Ltd. for CNY 181,821,200. Post the transaction, the investors will retain their shareholdings in the company and the registered capital of each investor will be distributed according to the proportion of shareholding.

Post the transaction, CNY 775,000,000 will be added to the registered capital of the company and the remaining will be added to the capital reserve of the company and the registered capital of the company will increase from CNY 225,000,000 to CNY 1,000,000,000.