Xichang Trustworthy Power Development Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 10 million on June 24, 2020. The transaction will include participation from returning investor Sichuan Xichang Electric Power Co.,Ltd. (SHSE:600505). As a result, the registered capital of the target will grow from CNY 20 million to CNY 30 million. The transaction has been reviewed and approved at the 28th meeting of the eighth board of directors of the investor.