Shanghai Taisheng Wind Power Equipment Co., Ltd announced a private placement of 215,745,976 shares at a price of CNY 5.01 for gross proceeds of CNY 1,080,887,340 on July 23, 2021. The transaction included participation from new investor Guangzhou Kaide Investment Holding Co., Ltd. The transaction was approved at the 18th meeting of the company's fourth board of directors. The company signed a Conditional Effective Share Subscription Agreement with Guangzhou Kaide Investment Holding Co., Ltd. The transaction is subject to the approval of the Shenzhen Stock Exchange on the issuance and the approval of registration by the China Securities Regulatory Commission. Post the closing of the transaction, Guangzhou Kaide Investment Holding Co., Ltd. will hold an equity stake of 26.93%.