中北能美股招股说明书(2022-12-30版)

424B51tm2233763d1_424b5.htm424B5 FiledpursuanttoRule424(b)(5)RegistrationNo.333-264579 ProspectusSupplement (ToProspectusdatedMay31,2022) UptoUS$3,230,000ClassAOrdinarySharesIssuableupontheconversionof 7%ConvertibleNote CNENERGYGROUP.INC. ThisisanofferingofthesecuritiesofCNEnergyGroup.Inc.,aBritishVirginIslandsholdingcompany.Unlessotherwisestated,asusedinthisprospectus,referencesto“we,”“us,”“our,”“CNEnergy,”andthe“Company”aretoCNEnergyGroup.Inc.,acompanyorganizedunderthelawsoftheBritishVirginIslands. Pursuanttothisprospectussupplementandtheaccompanyingprospectus,weareoffering,fromtimetotime,ClassAordinaryshares,noparvalue(the“ClassAordinaryshares”),foranaggregateofferingpriceofuptoUS$3,230,000,issuableupontheconversionofUS$3,232,000principalamountof7%convertiblenote(the“Note”)andinterestaccruedthereontoStreetervilleCapital,LLC,aUtahlimitedliabilitycompany(the“Investor”). OnDecember30,2022,weenteredintoasecuritiespurchaseagreement(the“PurchaseAgreement”)withtheInvestor,pursuanttowhichtheCompanyissuedtheNotetotheInvestoronDecember30,2022.TheNotebearsaninterestrateof7%perannum.AlloutstandingprincipalandaccruedinterestontheNotewillbecomedueandpayable12monthsafterthepurchasepriceoftheNoteisdeliveredbytheInvestortotheCompany(the“PurchasePriceDate,”and12monthsafterthePurchasePriceDate,the“MaturityDate”),unlessearlierprepaidorconverted.Anytimeafterthe60daysfromthePurchasePriceDateuntiltheOutstandingBalance(asdefinedintheNote)hasbeenpaidinfull,theInvestormay(i)converttheNoteatitsoptionintoourClassAordinarysharesata“LenderConversionPrice,”whichisinitially$2.00andsubjecttoadjustmentassetforththerein,butinnoeventshouldbelowerthan$0.10,or(ii)redeemtheNoteincashorourClassAordinaryshares.IftheInvestorchoosestosatisfyaredemptioninClassAordinaryshares,suchsharesshallbeissuedatthelowerof(i)theLenderConversionPrice,and(ii)80%of (a)theclosingpriceoftheClassAordinarysharesontheTradingDay(asdefinedintheNote)immediatelyprecedingthedatewhenredemptionnoticeisdelivered;or(b)theaverageclosingpriceoftheClassAordinarysharesforthefiveTradingDaysimmediatelyprecedingthedatewhenredemptionnoticeisdelivered.Wehavetheright,butnottheobligation,toprepayaportionorallamountsoutstandingundertheNotepriortotheMaturityDateatacashpriceequalto105%oftheoutstandingprincipalbalancetobeprepaidandplusaccruedandunpaidinterest.ForamoredetaileddescriptionoftheClassAordinarysharesandtheNote,seethesectionentitled“DescriptionofSecuritiesWeAreOffering”beginningonpageS-15. WeareauthorizedtoissueanunlimitednumberofClassAordinarysharesandanunlimitednumberofClassBordinaryshares,noparvalue(the“ClassBordinaryshares”),andwehave39,396,196ClassAordinarysharesand3,020,969ClassBordinarysharesissuedandoutstanding,respectively.HoldersofClassAordinarysharesandClassBordinaryshareshavethesamerightsexceptforvotingandconversion rights.Inrespectofmattersrequiringavoteofallshareholders,eachholderofClassAordinaryshareswillbeentitledtoonevoteperoneClassAordinaryshareandeachholderofClassBordinaryshareswillbeentitledto50votesperoneClassBordinaryshare.TheClassAordinarysharesarenotconvertibleintosharesofanyotherclass.TheClassBordinarysharesareconvertibleintoClassAordinarysharesatanytimeafterissuanceattheoptionoftheholderonaone-to-onebasis. OurClassAordinarysharesarelistedonTheNasdaqCapitalMarket,orNasdaq,underthesymbol“CNEY.”OnDecember29,2022,thelastreportedsalepriceofourordinarysharesonNasdaqwasUS$0.80pershare. Wearean“emerginggrowthcompany”asdefinedintheJumpstartOurBusinessActof2012,asamended,and,assuch,willbesubjecttoreducedpubliccompanyreportingrequirements. 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,adoptingnewmeasurestoextendthescopeofcybersecu