Jiangsu Heikki New Energy Co., Ltd. announced that it has signed an investment agreement to issue 265,000,000 common shares at an price of CNY 1.2 per share for gross proceeds of CNY 318,000,000 on February 9, 2022. The transaction will include participation from returning investor, Jiangsu Baichuan High-Tech New Materials Co., Ltd for CNY 120,000,000, new investors, Ming Yang Smart Energy Group Limited for CNY 190,000,000 and Shanghai Shenglian Cultural Investment Trading Partnership (Limited Partnership) for CNY 8,000,000. The registered capital will increase from CNY 950,000,000 to CNY 1,215,000,000.

The transaction has been approved at the 3rd meeting of the 6th session of the board of directors of the company and at the 3rd meeting of the 6th Supervisory Committee of the company.