Windey Energy Technology Group Co., Ltd. announced a private placement to issue 84,643,288 A shares at an issue price of CNY 8,27 per share for the gross proceeds of CNY 699,999,991.76 on January 11, 2024. The company has also signed Share Subscription Agreement with returning investor Zhejiang Machinery and Electrical Group Co., Ltd. for 84,643,288 shares. The investor directly holds 280,800,000 shares for 40.00% stake and if the maximum of 84,643,288 shares are issued, will hold 365,443,288 shares for 46.45% stake.

The shares cannot be transferred within 36 months from the issuance closing date. The transaction has been approved in the 14th Meeting of the Company?s 5th Directorate and the 10th Meeting of the 5th Supervisory Board and is subject to the approvals of the Company?s Shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.