Willing New Energy Co., Ltd. announced a private placement of A shares at an issue price of CNY 19.36 per share on March 12, 2023. The transaction will include participation from not more than 35 investors. The shares must not be transferred within 6 months after issuance completion date.

The transaction has been approved at the 44th session of the company?s 6th directorate and is subject to approval of the company?s shareholders meeting, Shenzhen Stock Exchange and China Securities Regulatory Commission.