Shaoneng Group Xinfeng Xuneng Biomass Power Generation Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 400,000,000 on April 26, 2024. The transaction will involve participation from existing investor, Guangdong Shaoneng Group Co., Ltd. Post-closing of the transaction, the registered capital of the company will increase from CNY 400,000,000 to CNY 1,000,000,000. The transaction has been approved in the GuangDong ShaoNeng Group Co., Ltd.'s 1st extraordinary meeting of the 11th board of directors.