Houpu Clean Energy Co., Ltd. announced a private placement to issue not more than 23,336,666 A shares at a price of CNY 7.29 per share with par value CNY 1 for gross proceeds of not more than CNY 170,124,295.14 on February 10, 2021. The transaction will include participation from returning investor, Wang Jiwen. The lock-up period is 18 months. After this issuance, Wang Jiwen will directly hold 59,808,666 shares of the company, accounting for 15.41% of the company's total share capital after the issuance. The transaction has been approved at the company's 6th meeting of the 4th directorate, and is subject to approval of the company's shareholders meeting, Shenzhen Stock Exchange and the China Securities Regulatory Commission. The resolution for the transaction is valid for 12 months from the date of deliberation and approval by the shareholders' meeting.

On December 22, 2021, the Company received the notice on acceptance of private placement application documents, acceptance [2021] No. 528 issued by the Shenzhen Stock Exchange, having reviewed and decided to accept the company's private placement application.

The lower limit of subscription for the shares issued by the company to the investor is 21,279,052 shares for the subscription price of 7.29 yuan per share at gross proceeds of CNY 155,124,300. After the completion of this issuance, the proportion of company shares directly or indirectly controlled by Mr. Wang Jiwen will increase to 29.62%