Ning Xia Yin Xing Energy Co.,Ltd announced that it expects to receive CNY 1.4826 billion in funding from Chalco Ningxia Energy Group Co., Ltd. and other investors
March 16, 2023
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Ning Xia Yin Xing Energy Co.,Ltd announced that it has entered into a share subscription agreement for a private placement of not more than 211,835,699 A shares for proceeds of not more than CNY 1,482,600,000 on March 17, 2023. The transaction will include participation from not more than 35, including returning investor Chalco Ningxia Energy Group Co., Ltd. The shares subscribed by Chalco Ningxia Energy Group Co., Ltd., i.e., 40.23% of the issuance, will be subject to a hold period of 36 months from the issuance closing date. The issue price will be not less than 80% of the average price in the 20 trading days before the pricing reference date. The shares issued to the other investors cannot be transferred within 6 months from the issuance closing date. The transaction has been approved in the 2nd Meeting of the companyâs 9th directorate and 2nd meeting of the 9th supervisory board, and is subject to the approvals of the companyâs shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.
On April 20, 2023, the company announced that the company's Private Placement Application Documents (Acceptance [2023] No. 321) issued by the Shenzhen Stock Exchange, having reviewed and decided to accept the Companyâs application.
Ning Xia Yin Xing Energy Co., Ltd is a China-based company principally engaged in new energy generation businesses. The Company's principal businesses include wind power generation and solar photovoltaic power generation. The Company is also engaged in new energy equipment manufacturing business. The Company is mainly engaged in the manufacture of wind turbine equipment and photovoltaic equipment. In addition, the Company also provides maintenance service, engineering, procurement and construction (EPC) service and service of fee for the agent. The Company mainly conducts its businesses within domestic market.
Ning Xia Yin Xing Energy Co.,Ltd announced that it expects to receive CNY 1.4826 billion in funding from Chalco Ningxia Energy Group Co., Ltd. and other investors