Core Viewpoint - The company plans to raise up to 3.6 billion yuan through a private placement of A-shares to fund wind power projects, despite previous fundraising efforts not meeting expected returns [1] Fundraising Plan - The company intends to issue shares to no more than 35 specific investors, including its controlling shareholder, China Energy Conservation [1] - The total amount to be raised is capped at 3.6 billion yuan, which will be allocated to seven projects [1] Project Allocation - The largest allocation will be for the 500,000 kW green power supply project in Chayouqianqi, with 1.65 billion yuan for the Chayouqianqi portion and 300 million yuan for the Xinheng County portion [1] - Other projects will receive funding ranging from 480 million yuan to 220 million yuan [1] Historical Fundraising - The company previously raised 2.056 billion yuan in 2020, 2.997 billion yuan in 2021 through convertible bonds, and 3.326 billion yuan in 2022 through a placement, all of which have been fully utilized [1] Performance of Previous Projects - Some projects funded by earlier capital raises have not met expected returns, particularly the Yangjiang Nanpeng Island 300MW offshore wind project and the Mazongshan Second Wind Farm B Zone 200MW project [1] - As of September 30, 2025, the Nanpeng Island project generated approximately 573 million yuan, falling short of projections due to declining average grid prices [1] - The Mazongshan project also underperformed due to price drops and wind curtailment issues [1]