WuXi Xinje Electric Co.,Ltd. announced a private placement to issue 21,280,000 A shares for the gross proceeds of CNY 500,000,000 on May 22, 2024. The transaction will include participation from individual investor Li Xin. The transaction has been approved in the 2nd meeting of the company's 5th board of directors and the 2nd meeting of the 5th board of supervisors and is subject to company?s shareholders, Shanghai Stock Exchange It can be implemented only after it has been approved and registered with the China Securities Regulatory Commission.

The securities are restricted to a hold period of 36 months.