Zhejiang Xinzhonggang Thermal Power Co., LTD. announced a private placement to issue not more than 30,000,000 common shares for the gross proceeds of not more than CNY 250,000,000 on March 26, 2024. The company shall issue shares at a price not less than 80% of the average price in the 20 trading days before the pricing reference date. The transaction will include participation from no more than 35 investors.

The shares to be issued shall have a hold period of 6 months from closing of the transaction. The transaction has been approved by the 3rd Meeting of the Company?s 3rd Directorate and is subject to the approval of the Company?s Shareholders, the Shanghai Stock Exchange, and the China Securities Regulatory Commission.