Dongzhu Ecological Environment Protection Co.,Ltd (SHSE:603359) announced a private placement of not more than 35,050,400 shares at an issue price of CNY 14.69 per share for not more than CNY 514,890,376 on March 9, 2020. The transaction will involve participation from Xi Huiming for 19,249,900 shares, Jiang Linhua for 8,000,000 shares, Wang Xuan for 2,300,000 shares, and other eight investors. The transaction has been approved by the board of directors of the company in its 2nd meeting of its 4th directorate. The transaction is still subject to shareholder meeting and the China Securities Regulatory Commission. The issue price maybe adjusted. The shares issued in the transaction have a hold period of 18 months, post the closing of the transaction. The validity of this non-public offering of shares is valid for 12 months from the date of deliberation and approval by the shareholders' meeting.