Shanghai Teld New Energy Co., Ltd. announced private placement of 76,530,612 shares at a price of CNY 17.64 per share for gross proceeds of not more than CNY 1,350,000,000 on December 16, 2019. The transaction will include participation from new investors Qingdao Jinyang Equity Investment Partnership (L.P.), and Qingdao Honggu Equity Investment Partnership (L.P.), funds managed by Beijing Jinhui Xingye Investment Management Co., Ltd. for combined investment of not more than CNY 300,000,000, returning investor Qingdao TGOOD Electric Co., Ltd. (SZSE:300001) currently holding 95% stake for not more than CNY 200,000,000 and other investors for CNY 850,000,00. The current registered capital of the company is CNY 368,420,000 before the capital increase. The shares will be issued at premium to par value of CNY 1 per share. The transaction has been approved by the 10th meeting of the 4th directorate of returning investor Qingdao TGOOD Electric Co., Ltd. (SZSE:300001). The transaction is subject to approval of shareholders of the returning investor Qingdao TGOOD Electric Co., Ltd. (SZSE:300001) in its 3rd extraordinary general meeting.