Moso Power Supply Technology Co.,Ltd announced a private placement of not more than 82,298,312 shares for the gross proceeds of not more than CNY 456,755,700 on April 28, 2021. The transaction will include participation from existing investor Jinan Chanfa Rongsheng Equity Investment Co., Ltd. for not more than 54,865,541 shares and new investor Jinan Energy Investment Co., Ltd for not more than 27,432,771 shares. The securities issued in the transaction are subject to 36 months hold period. The pricing base date of this non-public issuance of stocks is the announcement date of the resolution of the board of directors (that is, the second extraordinary meeting of the fifth board of directors in 2021) that reviewed the company's non-public issuance of stocks. 80% of the average price of the company's stock trading on a daily basis. The transaction has been approved at second extraordinary meeting of the fifth board of directors in 2021 and subject to approval from competent state-owned supervision and management department, the company's shareholders meeting and the China Securities Regulatory Commission.

On August 19, 2021, the company received approval from Jinan Industry Development Investment Group Co., Ltd., parent of Jinan Energy Investment Co., Ltd under application No. 71.