Huachangda Intelligent Equipment Group Co., Ltd. (SZSE:300278) announced a private placement of not more than 179,155,023 A shares for gross proceeds of not more than CNY 626,800,000 on July 31, 2020. The transaction will include participation from not more than 35 specific investors after meeting the requirements of the China Securities Regulatory Commission. The issue price is not lower than the issue base price, that is, not lower than 80% of the average price of the company's stock price during the 20 trading days before the pricing base date. The securities issued will be subject to a hold period of six months from the end of the issuance. The transaction has been approved at the third meeting of the fourth board of directors and is subject to the approval of the company’s shareholders meeting, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission for registration.