Shenzhen Prosunpro Solar Energy Co., Ltd announced that it intends to conduct a private placement of common shares with new investor, Jiangsu Sunrain Solar Energy Co.,Ltd. on September 30, 2013. The investor will not hold more than 50% stake in the company upon completion of the transaction. The company has not yet signed any formal agreement; it has not yet confirmed the transaction price, and has not yet asks for the approvals of relevant bodies.

On October 8, 2013, the company signed the letter of intent in connection with the transaction.

On October 28, 2013, the company announced that investor will acquire 17,820,000 shares for 14.182% stake in the company from Chen Hanwen and Luo Bin, for CNY 70,644,000. Post acquisition investor will subscribe for additional shares for gross proceeds of CNY 103,356,000. Investor will invest a total of CNY 174,000,000 for 30% stake in the company.

On November 14, 2013, the company announced that the investor will acquire 5,287,500 shares, representing 6.434% stake in the company from Chen Hanwen, 6,892,500 shares, representing 8.3871% stake in the company from Luo Bin, and 17,820,000 shares, representing 15.1789% stake in the company, through capital increase from the company at a price of CNY 5.80 per share. The investor will acquire 30% stake in the company through this transaction. Of the proceeds received through capital increase, CNY 17,820,000 will be injected into the registered capital and CNY 85,536,000 will be injected into the capital reserve of the company. On the same date, the transaction was approved at the 2013 2nd special stockholders' meeting of the investor. The company reported CNY 500,107,659.18 in total assets, CNY 281,042,830.58 in net assets and CNY 130,106,559.65 in revenues and CNY 25,185,194.44 in net profit as at the end of 2012.