Zhonghe Co., Ltd. (SZSE:002070) announced a private placement of 250,000,000 common shares at CNY 6 per share for gross proceeds of CNY 1,500,000,000 on June 15, 2014. The transaction will involve participation from ten designated investors. The transaction is subject to approval from the company's board of directors and government regulatory departments.

On June 30, 2014, the company announced that the transaction has been approved by the shareholders at the Annual General Meeting of 2013.