Tianneng Shuafode Energy Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 315,000,000 on June 25, 2021. The transaction will include participation from returning investors Tianneng Battery Group Co., Ltd. (SHSE:688819) for CNY 189,000,000 and Saft Groupe S.A. for CNY 126,000,000. The transaction has been approved at the 22nd meeting of the first board of directors and the 16th meeting of the first board of supervisors of Tianneng Battery Group Co., Ltd. (SHSE:688819). Post the transaction, the registered capital will increase from CNY 377,777,778 to CNY 692,777,778. Post the transaction, Tianneng Battery Group Co., Ltd. (SHSE:688819)'s stake will increase to 58.04% and Saft Groupe S.A. will retain 40% stake in the company.