Guoneng Kehuan Wangkui New Energy Co., Ltd. announced that it has entered into a capital increase agreement with returning investors, Guodian Technology & Environment Group Corporation Limited, YanTai LongYuan Power Technology Co., Ltd. for a gross proceeds of CNY 360,000,000 on October 27, 2022. As part of transaction Guodian Technology & Environment Group Corporation Limited will invest CNY 234,000,000, YanTai LongYuan Power Technology Co., Ltd. will invest CNY 126,000,000 and will retain their existing stakes of 65% and 35% respectively. Pursuant to the transaction the registered capital of the company will increase from CNY 210,000,000 to CNY 570,000,000.

The transaction has been approved by the board of directors of YanTai LongYuan Power Technology Co., Ltd. in its eleventh meeting of the fifth board of directors.