On February 27, 2023, Jiangxi Jovo Energy Co., Ltd, closed the transaction. The company issued 120,000 convertible bonds at a price of CNY 10,000 for the gross proceeds of CNY 1,200,000,000 in the transaction. The transaction included participation from Beijing Fengyan Investment Management Co., Ltd.-Beijing Fengyan Zengli No.

2 Private Equity Securities Investment Fund, for 5,000,000 bonds at a price of CNY 500,000,000, Ganzhou Development Investment Fund Management Co., Ltd. -Ganzhou Development Industrial Guidance Fund of Funds (Limited Partnership) for 2,000,000 bonds at a price of CNY 200,000,000, Shenwan Hongyuan Securities Co., Ltd. for 1,900,000 bonds at a price of CNY 190,000,000, Zhejiang Yongan Capital Management Co., Ltd. for 1,600,000 bonds at a price of CNY 160,000,000, Beijing Fengyan Investment Management Co., Ltd.-Beijing Fengyan Zengli No. 3 Private Equity Securities Investment Fund for 1,000,000 bonds at a price of CNY 100,000,000, Zheshang Securities Co., Ltd. for 500,000 bonds at a price of CNY 50,000,000. As a part of transaction, the company will pay an underwriter fees of CNY 18,800,000.