Hebei Hongsong Wind Power Co., Ltd. announced that it will receive funding from new investor China Ruifeng Galaxy Renewable Energy Holdings Limited on April 17, 2012. The investor shall acquire an additional 45.23% stake in the transaction. The subscriber holds 5.77% stake indirectly in the company through one of its subsidiary and shall hold 51% stake upon completion of the transaction. The transaction is conditional upon signing of a formal subscription agreement before the end of the third quarter of 2012.

On June 28, 2012, the company entered into a subscription agreement with the investor. The company will issue 520,000,000 shares at CNY 1.50 per share for gross proceeds of CNY 780,000,000. After the completion of the transaction, the investor will hold 52% stake in the company. The investor shall pay CNY 156,000,000 within 10 business days or such mutually agreed date and CNY 624,000,000 within five business days or such mutually agreed date. In the event that the company is unable or did not complete the change in business registration within 60 days from the first payment date, the investor has the right to terminate the agreement and request for a refund of the 20% of the consideration paid inclusive of interest accrued within the period. The investor will hold a total of 54.77% stake directly and through its subsidiaries. TC Capital Asia Limited will serve as financial advisor to the investor.

In July 2012, the company has received a refundable deposit of CNY 70,000,000 from the investor.

On October 24, 2012, the company announced that it has amended the terms of the transaction. The company will now issue 430,000,000 new shares at CNY 1.50 per share for gross proceeds of CNY 645,000,000. The shares issued represent 47.3% of the enlarged share capital of the company. Upon completion, the investor will hold will hold 457,727,754 shares in the total issued and paid up capital of the company which representing approximately 50.3%. The investor will pay the amount in two tranches. The company will pay CNY 129,000,000 in first tranche, on the first payment date upon obtaining the approval of the capital increment from the governmental departments including approvals for the company to become a Sino foreign equity joint venture company and fulfillment or waiver of conditions under the section headed conditions in the announcement and upon obtaining the new business license certificate of the Sino-foreign equity joint venture company of the company. The company will pay CNY 516,000,000 in second tranche and will be paid by On Win Corporation Limited, a wholly-owned subsidiary of the investor, to the company by installments which will be determined by the parties throughout a two-year period from the first payment date. The transaction is expected to close by December 31, 2012.

On October 31, 2012, the company announced that there is a delay in dispatch of the circular by the investor.

On November 12, 2012, the company announced that the investor will seek shareholders' approval on November 27, 2012.

On November 27, 2012, the company announced that the shareholders of the investor approved the transaction.

On January 9, 2013, Hebei Hongsong Wind Power Co., Ltd. closed the transaction. The company received CNY 129,000,000 in the transaction pursuant to the first tranche which represents 20% of the total amount to be raised. The remaining 80% amount will be disbursed to the company over the period of two years.