Xinleineng: Plans to raise no more than 1.787 billion yuan through a private placement

Xinleineng announced that the company plans to issue no more than 162,405,300 A-shares to specific targets, not exceeding 30% of the company's total share capital before this issuance after excluding treasury shares; the funds raised will not exceed RMB 1.787 billion, to be used for the Shenzhen Leineng manufacturing base construction project, the Beijing motor and controller industrialization project, and to supplement working capital. The total number of subscribers for this issuance shall not exceed 35, all of whom will subscribe in cash. The pricing benchmark date is the first day of the issuance period, and the issue price shall not be lower than 80% of the average share price of the company's stock over the 20 trading days preceding the first day of the issuance period. This issuance plan is still subject to approval by the Shenzhen Stock Exchange and registration by the China Securities Regulatory Commission before it can be implemented.