Shuangliang Eco-Energy Systems Co.,Ltd announced a private placement to issue not more than 561,198,375 A shares for the gross proceeds of not more than CNY 2,560,000,000 on December 29, 2023. 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 13th Extraordinary Meeting of 2023 of the 8th Directorate and the 12th Meeting of the 8th Supervisory Board, and is subject to the approvals of the Company?s Shareholders, the Shanghai Stock Exchange, and the China Securities Regulatory Commission.