Henan Senyuan Electric Co., Ltd. (SZSE:002358) announced a private placement on May 24, 2012. The transaction was approved at the company's second extraordinary general meeting of 2012.

On June 12, 2012, the company announced that the amendments relating to the transaction were approved by its third extraordinary general meeting of 2012.

On January 22, 2013, Henan Senyuan Electric Co., Ltd. cancelled the transaction.