Jiangxi Ganneng Shanggao Power Generation Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 1,590 million on November 10, 2022. The transaction will include participation from returning investors Jiangxi Ganneng Co., Ltd. for CNY 1,431 million, China Electric Power Engineering Consulting Group Zhongnan Electric Power Design Institute Co., Ltd. for CNY 159 million. Post closing, the registered capital of the company will increase from CNY 10 million to CNY 1600 million.

The transaction has been approved by the fourth interim board of Jiangxi Ganneng Co., Ltd., and still needs to be submitted to the general meeting of shareholders for deliberation.