中北能美股招股说明书(2022-10-03版)

424B51tm2227000d1424b5.htm424B5 FiledpursuanttoRule424(b)(5)RegistrationNo.333-264579 ProspectusSupplement (ToProspectusdatedMay31,2022) 10,514,018ClassAOrdinaryShares CNENERGYGROUP.INC. ThisisanofferingofthesecuritiesofCNEnergyGroup.Inc.,aBritishVirginIslandsholdingcompany.Unlessotherwisestated,asusedinthisprospectus,referencesto“we,”“us,”“our,”“CNEnergy,”andthe“Company”aretoCNEnergyGroup.Inc.,acompanyorganizedunderthelawsoftheBritishVirginIslands. Weareoffering10,514,018ClassAordinaryshares,noparvalue(the“ClassAordinaryshares”),pursuanttothisprospectussupplementandtheaccompanyingprospectus,atapurchasepriceofUS$1.712pershare. WeareauthorizedtoissueanunlimitednumberofClassAordinarysharesandanunlimitednumberofClassBordinaryshares,noparvalue(the“ClassBordinaryshares”),andwehave20,062,658ClassAordinarysharesand3,020,969ClassBordinarysharesissuedandoutstanding,respectively.HoldersofClassAordinarysharesandClassBordinaryshareshavethesamerightsexceptforvotingandconversionrights.Inrespectofmattersrequiringavoteofallshareholders,eachholderofClassAordinaryshareswillbeentitledtoonevoteperoneClassAordinaryshareandeachholderofClassBordinaryshareswillbeentitledto50votesperoneClassBordinaryshare.TheClassAordinarysharesarenotconvertibleintosharesofanyotherclass.TheClassBordinarysharesareconvertibleintoClassAordinarysharesatanytimeafterissuanceattheoptionoftheholderonaone-to-onebasis. OurClassAordinarysharesarelistedonTheNasdaqCapitalMarket,orNasdaq,underthesymbol“CNEY.”OnSeptember30,2022,thelastreportedsalepriceofourordinarysharesonNasdaqwasUS$2.09pershare. Wearean“emerginggrowthcompany”asdefinedintheJumpstartOurBusinessActof2012,asamended,and,assuch,willbesubjecttoreducedpubliccompanyreportingrequirements. Theaggregatemarketvalueofouroutstandingordinarysharesheldbynon-affiliates,orpublicfloat,asofOctober3,2022,wasapproximatelyUS$18.10million,whichwascalculatedbasedon20,032,658ordinarysharesheldbynon-affiliatesasofOctober3,2022andapersharepriceofUS$2.71,whichwastheclosingpriceofourordinarysharesonNasdaqonAugust4,2022.PursuanttoGeneralInstructionI.B.5ofFormF-3,innoeventwillwesellthesecuritiescoveredherebyinapublicprimaryofferingwithavalueexceedingmorethanone-thirdoftheaggregatemarketvalueofourordinarysharesinany12-monthperiodsolongastheaggregatemarketvalueofouroutstandingordinarysharesheldbynon-affiliatesremainsbelowUS$75,000,000.Duringthe12calendarmonthspriortoandincludingthedateofthisprospectus,wehavenotsoldanysecuritiespursuanttoGeneralInstructionI.B.5ofFormF-3. WeareanoffshoreholdingcompanywithnomaterialoperationsofourownandnotaChineseoperatingcompany.OuroperationsareconductedinChinabyoursubsidiaries.ThisisanofferingoftheClassAordinarysharesoftheoffshoreholdingcompanyintheBritishVirginIslands,insteadofsecuritiesoftheoperatingentitiesinChina.Therefore,youwillnotdirectlyholdanyequityinterestsintheoperatingentities. WearesubjecttocertainlegalandoperationalrisksassociatedwithhavingthemajorityofouroperationsinChina,whichcouldsignificantlylimitorcompletelyhinderourabilitytooffersecuritiestoinvestorsandcausethevalueofoursecuritiestosignificantlydeclineorbeworthless.See“Item3.KeyInformation—D.RiskFactors—RisksRelatingtoDoingBusinessinthePRC—AnyactionsbytheChinesegovernment,includinganydecisiontointerveneorinfluenceouroperationsortoexertcontroloveranyofferingofsecuritiesconductedoverseasand/orforeigninvestmentinChina-basedissuers,maycauseustomakematerialchangestoouroperations,maylimitorcompletelyhinderourabilitytoofferorcontinuetooffersecuritiestoinvestors,andmaycausethevalueofsuchsecuritiestosignificantlydeclineorbeworthless”inourmostrecentannualreportonForm20-F(the“2021AnnualReport”).Recently,thePRCgovernmentadoptedaseriesofregulatoryactionsandissuedstatementstoregulatebusinessoperationsinChina,includingcrackingdownonillegalactivitiesinthesecuritiesmarket,enhancingsupervisionoverChina-basedcompanieslistedoverseasusingvariableinterestentitystructure,adoptingnewmeasurestoextendthescopeofcybersecurityreviews,andexpandingtheeffortsinanti-monopolyenforcement.Asofthedateofthisprospectussupplement,weandoursubsidiarieshavenotbeeninvolvedinanyinvestigationsoncybersecurityreviewinitiatedbyanyPRCregulatoryauthority,norhasanyofthemreceivedanyinquiry,noticeorsanction.Asofthedateofthisprospectussupplement,wearenotsubjecttocybersecurityreviewbytheCyberspaceAdministrationofChina,ortheCAC,sincewecurrentlydonothaveoveronemillionusers’personalinformationanddonotanticipatethatwewillbecollectingoveronemillionusers’personalinformationintheforeseeablefuture,whichweunderstandmightotherwisesubjectustotheCybersecurityReviewMeasures.WearenotsubjecttonetworkdatasecurityreviewbytheCACiftheDraftRegulationsontheNetworkDataSecurityAdministration(DraftforComments)(the“SecurityAdministrationDraft”)areenactedasproposed,becausewecurrentlydonothaveoveronemillionusers’personalinformation,wedonotcollectdatathataffectormayaffectnationalsecurityandwedonotanticipatethatwewillbecollectingoveronemillionusers’personalinformationordatathataffectormayaffectnationalsecurit