Henan Yinge Industrial Investment Co.,Ltd. (SHSE:600069) announced a private placement of class A common shares of face value of CNY 1 per share for gross proceeds of not more than CNY 1,400,000,000 on February 22, 2018. The transaction will involve participation from not more than 10 investors. The issuance price will not be lower than 90% of the average market price of the company's shares as of 20 previous days to issuance date. The total number of shares issued will not exceed 20% of the issued share capital of the company previous to this transaction. The transaction has been approved at the 33rd meeting of the 8th directorate of the company. The transaction is subject to approval from the shareholders of the company and the China Securities Regulatory Commission. The shares will be issued to a lock-up period of 12 months from the date of issuance. The transaction will involve participation from only qualified investors complying with the specifications of the China Securities Regulatory Commission.