Yunnan Energy New Material Co., Ltd. (SZSE:002812) announced a private placement of A common shares for gross proceeds of CNY 1,542,200,000 on June 23, 2021. The transaction will involve participation from not more than 35 investors. The issue price will not be less than 80% of the average trading price of the company’s A share during the 20 trading days prior to the pricing base date. The issue volume for the transaction will not exceed 30% of the company’s total capital prior to this transaction. The shares subscribed by the investors in the private placement must not be transferred within six months after the issuance completion date. The company may incur intermediary fees and related tax fees. This transaction was approved by the counter parties and by the 29th session of the company’s 4th directorate. After the completion of the audit and appraisal works, the company would need to hold another directorate to approve this transaction. The transaction still need approval from shareholders’ meeting and China Securities Regulatory Commission.