Ming Yang Smart Energy Group Limited (SHSE:601615) announced a private placement of not more than 413,916,713 A shares for gross proceeds of not more than CNY 6,000,000,000 on April 9, 2020. The transaction will include not more than 35 specific investors. The number of shares issued in the transaction does not exceed 30% of company's total share capital prior to the transaction and issue price in the transaction is not less than 80% of the average price of the company's stock trading 20 trading days before the pricing base date of this transaction.

The transaction has been approved by the board of directors of the company in its second meeting of the second directorate of the company. The transaction still need approval from shareholder's of the company, China Securities Regulatory Commission before the completion of the transaction and need approval from Shanghai Stock Exchange and China Securities Depository and Clearing Co., Ltd Shanghai Branch for stock issuance, registration and listing matters on post completion of transaction.