Chongqing Mas Sci.&Tech. Co., Ltd. (SZSE:300275) announced a private placement of not more than 33,622,800 A shares for gross proceeds of not more than CNY 195,000,000 on May 9, 2020. The company will issue shares at a price not lower than 80% of the average price of its shares 20 trading days before the first day of the offering period. The transaction will include participation from not more than 35 investors. All securities to be issued in the transaction will be subject to a hold period of 6 months from the closing date. The transaction has been approved in the eleventh meeting of the fourth session of the company's board of directors, and is subject to approval from shareholders of the company and China Securities Regulatory Commission.