Shanghai Aiko Solar Energy Co., Ltd. announced a private placement of not more than 162,241,887 A shares at an issue price of CNY 10.17 per share for gross proceeds of not more than CNY 1,649,999,991 on May 5, 2022. The transaction included participation from Zhuhai Hengqin Shunhe Enterprise Management Partnership Enterprise (Limited Partnership). The shares subscribed by the investor of this issuance shall not be transferred within 36 months from the end of the issuance.

The transaction has been approved in the 31st meeting of the 8th Board of Directors of the Company and is subject to the approvals of the shareholders and the China Securities Regulatory Commission.