XD Group Finance Co., Ltd. announced a private placement of common shares on July 5, 2022. The transaction will involve participation from new investors, China Electric Equipment Group Corporation, XJ Group Corporation, Pinggao Group Co., Ltd. and Shandong Electrical Engineering & Eqipment Group CO.,Ltd. Post-closing of the transaction, China Electric Equipment Group Corporation will become controlling shareholder of the company. The transaction was approved by the board of directors of China XD Electric Co., Ltd at its sixth meeting of the fourth board of directors