Shandong Hongyu Agricultural Machinery Co., Ltd. (SZSE:002890) announced a private placement of A shares of more than CNY 1 billion on March 12, 2021. The transaction include participation from more than 35 investors. The issuance price will not be less than 80% of the average price of the company’s stock price during the 20 trading days prior to the pricing base date. The transaction is approved by shareholder, board of directors in 8th session, of 3rd directorate, 8th session of 3rd supervisory board of the company. The transaction is subjected to the approval of shares holders and China Securities Regulatory Commission.