Beijing Yuanlong Yato Culture Dissemination Co.,Ltd. (SZSE:002878) announced a private placement of common shares for gross proceeds of not more than CNY 236,600,000 on April 30, 2021. The pricing base date is the first day of the issuance period. The issue price will not be less than 80% of the average price of the company’s shares during the 20 trading days prior to the pricing base date. The transaction will include participation from not more than 35 investors. The securities issued will be subject to a hold period of 6 months. The transaction has been approved by the 27th session of company’s 3rd directorate. The transaction still needs to be approved by the company’s shareholders’ meeting and China Securities Regulatory Commission.