Spic Guizhou Jinyuan Weining Energy Co.,Ltd. announced a private placement of 310,810,800 common shares for the gross proceeds of CNY 459,999,984.00 on October 31, 2022. The transaction will include participation from Lanxi Yuantai Equity Investment Partnership Enterprise (L.P), a fund managed by, Zhejiang Zheneng Electric Power Co., Ltd. in the transaction. The transaction has been approved by the China Securities Regulatory Commission.