Bayannaoer Jiaxun New Energy Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 120,000,000 on December 10, 2021. The transaction will include participation from returning investor Ningxia Jiaze Renewables Corporation Limited to retain its 100% stake holding in the company. The transaction has been approved in the meeting of the Third Board of Supervisors and still needs to be reviewed and approved by the general meeting of shareholders of the investor.