Tanyuan Technology Co., Ltd. announced that it has signed an agreement to issue more than 62,755,560 A shares pre-plan at an issue price of CNY 8.93 per share for an aggregate gross proceeds of not more than CNY 560,407,150.80 on November 14, 2022. The transaction will include participation from returning investor Lianyuan Desheng Four Seasons New Energy Technology Co., Ltd. for 62,755,560 shares. The shares to be issued shall have a hold period of 18 months from the issuance closing date.

The transaction has been approved at the 25th extraordinary meeting of the company's 3rd directorate and 19th extraordinary meeting of the 3rd supervisory board. The transaction is still subject to the company's shareholders and the China Securities Regulatory Commission.