Lishen (Qingdao) New Energy Co., Ltd. announced that it has entered into an agreement to issue common shares for gross proceeds of CNY 50 million on August 23, 2023. The transaction will include participation from new investor Wuxi JinYang New Materials Co., Ltd. for 0.2184% stake,Anhui QuanChai Group Corp.,China Southern Power Grid Energy Storage Co., Ltd.,Yantai Xinzhen Tianying Equity Investment Center (Limited Partnership),a fund managed by Ningbo Kunlun Xinyuan Equity Investment Management Partnership Enterprise (L.P.) and Kunlun Trust Co., Ltd.,Nanwang Nengchuang Equity Investment Fund (Guangzhou) Partnership Enterprise (L.P.),a fund managed by Nanwang Jianxin Fund Management Co., Ltd. and Chuzhou Xinneng Industrial Fund Partnership Enterprise (Limited Partnership). Out of CNY 50 million, CNY 2.112115 million will be included in company?s registered capital and CNY 47.887885 will be included in company?s capital reserve.