Zhangjiagang Haiguo New Energy Equipment Manufacturing Co., Ltd. announced a private placement of not more than 25,272,000 A shares with a par value of CNY 1 each for gross proceeds of not more than CNY 500,000,000 on August 19, 2022. The transaction has been approved at the third meeting of the third board of directors and the third meeting of the third board of supervisors. The transaction will include participation from not more than 35 special investors.

The pricing base date of transaction is the first day of the issue period, and the issue price is not less than 80% of the average price of the company's stocks 20 trading days before the first day of the issue period. The transaction is subject to the approval of the company shareholders meeting, Shenzhen Stock Exchange and the China Securities Regulatory Commission. The securities issued are restricted for a period of 6 months.