Guangdong Anjubao Digital Technology Co., Ltd. announced a private placement of A shares to issue no more than 108,674,120 shares for gross proceeds not exceeding CNY 520,000,000 on April 24, 2020. The transaction will include participation from not more than 35 specific investors. The issue price shall be not lower than 80% of the average stock trading price 20 trading days before the pricing base date. The shares issued in the transaction will have a hold period of six months from the date of issuance. The transaction has been approved at the thirteenth meeting of the fourth board of directors of the company. The transaction is still subject to approval from company's shareholders at the general meeting and China Securities Regulatory Commission.