Tianjin Binhai Energy & Development Co.,Ltd announced it has signed an agreement to issue not more than 66,640,000 A shares pre-plan at an issue price of CNY 12.17 per share for gross proceeds of not more than CNY 811,008,800 on April 24, 2023. The transaction will include participation from returning investor, Risun Holding Co., Ltd. The transaction has been approved at the twenty-seventh meeting of the tenth board of directors. The transaction still needs approval by the Shenzhen Stock Exchange and China Securities Regulatory Commission.

The transaction have a lock-up period of 18 months. The resolution of this issuance is valid for 12 months from the date of deliberation and approval by the company's shareholders meeting.