Liyang Yuequan Electric Energy Co., Ltd. announced a private placement of 50,000,000 shares at a price of CNY 1 per share for gross proceeds of CNY 50,000,000 on November 30, 2017. The transaction will include participation from returning investor, Shanghai Putailai New Energy Technology Co., Ltd. (SHSE:603659). Post the closing of the transaction, the registered capital of the company will increase from CNY 250,000,000 to CNY 300,000,000. Post the closing, the investor will hold 21.62% stake in the company. The transaction was approved at the 1st directorate’s 19th meeting and the 1st supervisory board's 10th meeting.