Shanghai Yimin Commercial Group Co., Ltd. (SHSE:600824) announced a private placement of common shares and convertible bonds at an issue price not less than 80% of the average price of the listed company's stock trading 20 trading days before the first day of the issuance period on June 12, 2020. The bonds are convertible into common shares at an not less than 80% of the average price of the listed company's stock trading 20 trading days before the first day of the issuance period. The transaction will include participation from not more than 35 specific investors. The transaction has been approved in the 16th meeting of the 8th board and the 15th meeting of the 8th board of supervisors of the company and is subject to approval in the general meeting of shareholders of the company and approval of the China Securities Regulatory Commission. The securities to be issued are subject to a hold period of 6 months. The transaction is valid for 12 months from the date of submission to the general meeting of shareholders for approval.