Jiangsu Ligang Electric Power Co., Ltd. announced a private placement of 1,810,523,000 common shares at a price of CNY 1 per share for the gross proceeds of CNY 1,810,523,000 on July 6, 2023. The transaction will include participation from new investor Wuxi Huaguang Environment & Energy Group Co.,Ltd. The transaction has been approved in the 13th session of the company’s 8th directorate and the 9th session of the company’s 8th supervisory board.