Muli Guzeng Hydropower Development Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 150 million on June 23, 2020. The transaction will include participation from returning investors Sichuan Xichang Electric Power Co.,Ltd. (SHSE:600505) for CNY 118.5 million and Muli State-owned Assets Management Co., Ltd. for CNY 31.50 million. Post the transaction Sichuan Xichang Electric Power Co.,Ltd. (SHSE:600505) stake holding in the company will increase from 64% to 70.04% and the registered capital of the company will increase from CNY 222.813 million to CNY 372.813 million. The transaction has been approved in the 28th meeting of the 8th directorate of Sichuan Xichang Electric Power Co.,Ltd. (SHSE:600505).