Ningbo Economic and Technological Development Zone Thermal Power Co., Ltd. announced that it will issue common shares for a gross proceeds of CNY 60 million on April 24, 2020. The transaction will include participation from existing investor Ningbo United Group Co.,Ltd. (SHSE:600051). Post to the transaction, the registered capital of the company will increase from CNY 140 million to CNY 200 million. The transaction has been approved in the 5th meeting of the 9th directorate, 5th meeting of the 9th supervisory committee of the investor and does not need approval of its shareholders and relevant government departments.