Qingdao TGOOD Electric Co., Ltd. (SZSE:300001) announced that it has entered into share subscription agreement with investors to issue 53,968,252 shares at a price of CNY 15.75 per share for gross proceeds of not more than approximately CNY 850 milion on May 18, 2020. The transaction will include participation from Three Gorges Capital Holdings Co., Ltd. for 19,047,619 shares and CNY 300 million, Shandong Railway Development Fund Co., Ltd. for 12,698,412 shares for CNY 200 million, Sanxia Gold Stone (Wuhan) Equity Investment Fund Partnership Enterprise (Limited Partnership), a fund managed by Gold Stone Investment Co., Ltd. for 12,698,412 shares for CNY 200 million, Sanxia Green Industry (Shandong) Equity Investment Partnership Enterprise (Limited Partnership) for 6,349,206 shares for CNY 100 million, Dongfang Electric (Chengdu) Qingneng Equity Investment Fund Partnership Enterprise (Limited Partners for 3,174,603 shares fir CNY 50 million. The issue price will not be less than 80% of the average price in the 20 trading days before the pricing reference date. The shares are subject to a hold period of 18 months. The transaction has been approved at the 13th Meeting of the Company's 4th Directorate, and is subject to the approvals of the Shareholders Meeting and the China Securities Regulatory Commission.