Bringspring Science and Technology Co., Ltd. (SZSE:300290) announced a private placement of not more than 179,258,379 shares for gross proceeds of up to CNY 200 million on September 30, 2020. The transaction will include participation from not more than 35 special investors. The pricing base date is the first day of the issue period, and the issue price is not less than 80% of the average price of the company's stocks 20 trading days before the pricing base. The transaction has been approved by the board of directors in the 21st meeting of its 4th directorate. On October 9, 2020, the company announced that the transaction has been approved by the shareholders at its 2nd extraordinary general meeting of 2020. On December 14, 2020, the company announced that it will receive not exceeding CNY 180,000,000 which is in line with the requirement that the total amount of funds raised by the issuance to specific subscribers does not exceed CNY 300,000,000.