Xinjiang Tianshun Supply Chain Co., Ltd. (SZSE:002800) announced that it has signed a subscription agreement for a private placement of not more than 22,404,000 A shares at an issue price of CNY 16.52 per share for gross proceeds of not more than CNY 370,114,080 on May 5, 2020. The transaction will include participation from Xinjiang Baodi Investment Co., Ltd. for 19,416,800 shares and Hu Xiaoling for 2,987,200 shares. All securities issued in the transaction are subject to a hold period of 18 months from the issuance closing date. The transaction has been approved by 18th extraordinary meeting of the company's 4th directorate, 14th extraordinary meeting of the 4th supervisory board and is subject to approval from shareholders meeting and the China Securities Regulatory Commission.