Sichuan Energy Saving and Environmental Protection Investment Co., Ltd. announced a private placement of 331,795,690 common shares at a price of CNY 2.4217 per share for gross proceeds of CNY 803,509,622 on January 20, 2022. The transaction will include participation from returning investor Sichuan New Energy Power Company Limited whose stake will increase from 51% to 70.55% in the company. Post the transaction, the registered capital will increase from CNY 500,000,000 to CNY 831,795,700.

Of the total proceeds, CNY 331,795,700 will go to registered capital and remaining will go to capital reserve. The transaction has been approved at the 9th meeting of investor's 8th directorate, and does not need the shareholders' approval.