State Power Rixin Technology Co., Ltd. announced a private placement to issue A shares pre-plan for gross proceeds of not more than CNY 863,864,300 on July 25, 2023. The issue price is not less than 80% of the average price in the 20 trading days before the pricing reference date. The transaction will include participation from not more than 35 investors.

The shares cannot be transferred within 6 months from the issuance closing date. The transaction has been approved at the 20th meeting of the company?s 2nd directorate and the 18th meeting of the 2nd Supervisory Board. The transaction is subject to the approvals of the company?s shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.