中北能美股招股说明书(2023-01-31版)

424B51tm235025d1_424b5.htm424B5 FiledpursuanttoRule424(b)(5)RegistrationNo.333-264579 ProspectusSupplement (ToProspectusdatedMay31,2022) 10,396,974Units,EachConsistingofOneClassAOrdinaryShareandOneWarrantand 7,786,300Pre-FundedUnits,EachConsistingofOnePre-fundedWarrantandOneWarrant CNENERGYGROUP.INC.(中北能源集团有限公司) ThisisanofferingofthesecuritiesofCNEnergyGroup.Inc.(中北能源集团有限公司),aBritishVirginIslandsholdingcompany.Unlessotherwisestated,asusedinthisprospectus,referencesto“we,”“us,”“our,”“CNEnergy,”andthe“Company”aretoCNEnergyGroup.Inc.(中北能源集团有限公司),acompanyorganizedunderthelawsoftheBritishVirginIslands. Pursuanttothisprospectussupplementandtheaccompanyingprospectus,weareoffering10,396,974units,eachconsistingofoneClassAordinaryshare,noparvalue(the“ClassAordinaryshare,”collectivelythe“ClassAordinaryshares”)andonewarrant,eachexercisabletopurchaseoneClassAordinaryshareatanexercisepriceof$0.55pershare(the“warrant,”collectivelythe“warrants”),atanofferingpriceof$0.55perunit.Wearealsooffering7,786,300pre-fundedunits,eachconsistingofonepre-fundedwarrant,eachexercisabletopurchaseoneClassAordinaryshareatanexercisepriceof$0.0001pershare(the“Pre-fundedWarrant,”collectivelythe“Pre-fundedWarrants”),andonewarrant,atanofferingpriceof$0.5499perpre-fundedunit.ThewarrantswillbeimmediatelyexercisableandmaybeexercisedonorbeforeFebruary1,2028.ThePre-fundedWarrantswillbeimmediatelyexercisableandmaybeexercisedatanytimeuntilallofthePre-fundedWarrantsareexercisedinfull.Thecomponentsoftheunitswereissuedseparatelyandareimmediatelyseparableuponissuance. WeareauthorizedtoissueanunlimitednumberofClassAordinarysharesandanunlimitednumberofClassBordinaryshares,noparvalue(the“ClassBordinaryshares”),andwehave39,396,196ClassAordinarysharesand3,020,969ClassBordinarysharesissuedandoutstanding,respectively.HoldersofClassAordinarysharesandClassBordinaryshareshavethesamerightsexceptforvotingandconversionrights.Inrespectofmattersrequiringavoteofallshareholders,eachholderofClassAordinaryshareswillbeentitledtoonevoteperoneClassAordinaryshareandeachholderofClassBordinaryshareswillbeentitledto50votesperoneClassBordinaryshare.TheClassAordinarysharesarenotconvertibleintosharesofanyotherclass.TheClassBordinarysharesareconvertibleintoClassAordinarysharesatanytimeafterissuanceattheoptionoftheholderonaone-to-onebasis. OurClassAordinarysharesarelistedonTheNasdaqCapitalMarket,orNasdaq,underthesymbol“CNEY.”OnJanuary27,2023,thelastreportedsalepriceofourordinarysharesonNasdaqwas$2.17pershare.ThereisnoestablishedpublictradingmarketforthePre-FundedWarrantsorwarrantsandwedonotexpectmarketstodevelop.Withoutanactivetradingmarket,theliquidityofthesesecuritieswillbelimited. Wearean“emerginggrowthcompany”asdefinedintheJumpstartOurBusinessActof2012,asamended,and,assuch,willbesubjecttoreducedpubliccompanyreportingrequirements. WeareanoffshoreholdingcompanywithnomaterialoperationsofourownandnotaChineseoperatingcompany.OuroperationsareconductedinChinabyoursubsidiaries.ThisisanofferingoftheClassAordinarysharesoftheoffshoreholdingcompanyintheBritishVirginIslands,insteadofsecuritiesoftheoperatingentitiesinChina.Therefore,youwillnotdirectlyholdanyequityinterestsintheoperatingentities. WearesubjecttocertainlegalandoperationalrisksassociatedwithhavingthemajorityofouroperationsinChina,whichcouldsignificantlylimitorcompletelyhinderourabilitytooffersecuritiestoinvestorsandcausethevalueofoursecuritiestosignificantlydeclineorbeworthless.See“Item3.KeyInformation—D.RiskFactors—RisksRelatingtoDoingBusinessinthePRC—AnyactionsbytheChinesegovernment,includinganydecisiontointerveneorinfluencetheoperatingentities’operationsortoexertcontroloveranyofferingofsecuritiesconductedoverseasand/orforeigninvestmentinChina-basedissuers,maycausethemtomakematerialchangestotheiroperations,maylimitorcompletelyhinderourabilitytoofferorcontinuetooffersecuritiestoinvestors,andmaycausethevalueofsuchsecuritiestosignificantlydeclineorbeworthless”inourmostrecentannualreportonForm20-F(the“2022AnnualReport”).Recently,thePRCgovernmentadoptedaseriesofregulatoryactionsandissuedstatementstoregulatebusinessoperationsinChina,includingcrackingdownonillegalactivitiesinthesecuritiesmarket,enhancingsupervisionoverChina-basedcompanieslistedoverseasusingvariableinterestentitystructure,adoptingnewmeasurestoextendthescopeofcybersecurityreviews,andexpandingtheeffortsinanti-monopolyenforcement.Asofthedateofthisprospectussupplement,weandoursubsidiarieshavenotbeeninvolvedinanyinvestigationsoncybersecurityreviewinitiatedbyanyPRCregulatoryauthority,norhasanyofthemreceivedanyinquiry,noticeorsanction.Asofthedateofthisprospectussupplement,wearenotsubjecttocybersecurityreviewbytheCyberspaceAdministrationofChina,ortheCAC,sincewecurrentlydonothaveoveronemillionusers’personalinformationanddonotanticipatethatwewillbecollectingoveronemillionusers’personalinformationintheforeseeablefuture,whichweunderstandmightotherwisesubjectustotheCybersecurityReviewMeasures.WearenotsubjecttonetworkdatasecurityreviewbytheCACiftheDraftRegulationsontheNetworkDataSecurit