Hefei Yuman Investment Management Co., Ltd announced a private placement of common shares for gross proceeds of CNY 231,524,000 on August 23, 2017. The transaction will involve participation from existing investors Sungrow Power Supply Co., Ltd. (SZSE:300274) for CNY 69,457,200, and Jilin Power Share Co.,Ltd. (SZSE:000875) for CNY 162,066,800. Post the closing of the transaction, the two investors will maintain their existing stakes in the company.

The transaction was approved by the parent of the company at the 17th meeting of the 7th Board of Directors and is not subject to approval from its shareholders.