Lanzhou Lishang Guochao Industrial Group Co.,Ltd signed a private placement to issue not more than 171,823,129 A shares at a price of CNY 4.25 for the gross proceeds of CNY 730,248,298.25 on June 29, 2023. The transaction included participation from new investor Zhejiang Yuanming Holdings Co., Ltd. The securities have a hold period of 36 months from the date of closing of the transaction. The transaction has been approved in the 5th Meeting of the Company?s 10th Directorate, and is subject to the approvals of the Company?s Shareholders, the Committee of Lishui Economic And Technological Development Zone, the Shanghai Stock Exchange, and the China Securities Regulatory Commission.


On the same date, the transaction has been approved at the 5th meeting of the 10th Board of Directors, and the 4th meeting of the 10th Board of Supervisors.

On July 19, 2023, the company announced that the issuance of A shares to specific objects in 2023 has been approved by the Lishui Economic and Technological Development Zone Management Committee for gross proceeds not exceeding CNY 730,248,300 (inclusive), wherein the subscription to the issuance will be in the form of cash.