Aiko Solar completes targeted share issuance, raising RMB 3.5bn

Shanghai Aiko Solar Energy Co., Ltd. (Aiko Solar) successfully completed its targeted issuance of A-shares, raising a total of RMB 3,499,999,995.54. The issuance, placing 290,939,318 shares at RMB 12.03 per share, was approved by the China Securities Regulatory Commission (CSRC) and the Shanghai Stock Exchange. The pricing date was September 2, 2025, with the issuance price set at 80% of the average trading price over the 20 trading days prior to the pricing benchmark date.

Following the deduction of issuance-related expenses totaling RMB 41,761,672.15 (excluding VAT), the net proceeds amounted to RMB 3,458,238,323.39. This resulted in an increase of RMB 290,939,318 in share capital and RMB 3,167,299,005.39 in capital reserves. The newly issued shares are subject to a six-month lock-up period, after which they will be listed and traded on the Shanghai Stock Exchange.

The issuance involved 19 subscribing investors, including UBS AG, China International Capital Corporation Limited, and CITIC Securities Co., Ltd. Huatai United Securities Co., Ltd. acted as joint lead underwriters. The process adhered to relevant laws and regulations, ensuring fairness and transparency.