Shijiazhuang Shilei New Energy Development Co., Ltd. announced a private placement of equity shares for the gross proceeds of CNY 318,000,000 on December 13, 2017. The transaction will include participation from existing investors, Jilin Power Share Co.,Ltd. for CNY 16,218,000 for its 51% stake and Hebei Suming Power Sales Co., Ltd. for CNY 15,582,000 for its 49% stake. Post the capital increase, the registered capital will increase from CNY 10,000,000 to CNY 328,000,000. The transaction has been approved in the 21st Meeting of 7th directorate, and does not need the Shareholders’ Approval.