Shandong Jinjing Science and Technology Stock Co., Ltd. (SHSE:600586) announced a private placement of not more than 428,631,000 A shares for gross proceeds of no more than CNY 1,400,000,000 on February 8, 2021. The company will issue shares at a price of not lower than 80% of the median market price of the company’s shares as of 20 previous days to issuance date. The transaction will include participation from no more than 35 specific investors. The transaction has been approved by the board of directors of the company at its 29th Meeting and 7th Directorate and 12th Meeting of the 7th Supervisory Board meeting and does not require the shareholders’ approval. The transaction is subject to approval from China Securities Regulatory Commission. The shares issued are subject to a hold period of 6 months from the date of issuance.