Shenzhen Zhuoneng New Energy Co., Ltd. announced a private placement of up to 7,700,000 common shares at no more than CNY 19.5 per share for gross proceeds of not more than CNY 150,150,000 on January 6, 2017. The transaction will include participation from not more than 35 investors. The transaction was approved at the 7th session of the 1st directorate meeting of the company and is further subject to the approval of its 2017 2nd extraordinary general meeting.