Shenzhen Sunrise New Energy Co., Ltd. (SZSE:002256) announced a private placement of not more 564,723,561 A shares for gross proceeds of up to CNY 573,148,200 on January 24, 2021. The transaction will include participation from 35 investors. The pricing base date of this non-public issuance is the first day of the non-public issuance period. The issue price of this non-public offering of shares shall not be less than 80% of the average trading price of the company’s shares on the 20 trading days prior to the pricing benchmark. The shares will have a lock up period of six months. The transaction is approved at the 41st meeting of the fifth board of directors and is subject to approval from its shareholder's and China Securities Regulatory Commission.