Guangdong Dowstone Technology Co., Ltd. (SZSE:300409) announced a private placement of up to 26,000,000 A shares for gross proceeds of up to CNY 801,540,000 on January 23, 2017. The transaction will include participation from not more than 5 specific investors, including existing individual investor Rong Jihua who committed to invest for not lower than 10% of the total shares to be issued and not more than 40% of the total shares to be issued. The issue price shall not go lower than the average price of the company’s shares 1 trading day prior to the first day of issuance; the issue price shall not go lower than 90% of the average price of the company’s shares 20 trading days prior to the first day of issuance or shall not go lower than 90% of the average price of the company’s shares 1 trading day prior to the first day of issuance. The transaction was approved at the 1st session for 2017 of the 3rd directorate meeting of the company and is further subject to the approval of its shareholders’ meeting.