SDIC Power Holdings Co., Ltd. announced a private placement of 470,595,854 A shares at an issue price of CNY 7.72 per share for gross proceeds of CNY 3,632,999,992.88 with returning investor State Development & Investment Corp., Ltd. on July 19, 2021. The transaction has been approved in 30th meeting of 11th board of directors of company and is subject to the approval of competent state-owned assets supervision and administration department or its authorized body, and by the company's shareholders meeting, and by the China Securities Regulatory Commission. The shares will have a lock up period of 36 months.