According to the Zhitong Finance APP, Ruifeng Renew (00527) has been suspended since January 29 this year. It rose more than 24% when it resumed trading this morning, and as of press time, it is up 14.46%, at HKD 0.285, with a turnover of HKD 4.6874 million.

On the news front, Ruifeng Renew announced that on January 26th, it issued 590 million new shares to Hebei Transportation Group at a price of CNY 106 million, and issued CNY 934 million worth of 2024 RMB convertible bonds. On June 21, the company will issue 119 million new shares to Atlantis for approximately CNY 23.41 million, as well as CNY 162 million worth of convertible bonds; and issue CNY 98 million worth of convertible bonds to TradArt Flagship. The subscription price and conversion price are both CNY 0.18, which is a discount of approximately 21.28% from the closing price before it was suspended. The net amount raised totaled approximately CNY 1.295 billion.

In addition, the company will acquire 50% equity of Hebei Investment De Neng Energy from Hebei Transportation Group, which has solar power projects in Weichang Manchu Mongolian Autonomous County, Hebei Province and wind power projects in Chengde City, for a cash consideration not exceeding CNY 7.5 million.