Flat Glass Group Co., Ltd. (SEHK:6865) announced a private placement of not more than 450,000,000 A shares for gross proceeds of not more than CNY 2,000,000,000 on June 12, 2020. The transaction will include participation from not more than 35 specified investors, including securities investment fund management companies, securities firms, trust companies, finance companies, insurance institutional investors, qualified foreign institutional investors, which satisfy the relevant requirements of the China Securities Regulatory Commission and other corporate bodies, individuals or other institutional investors which satisfy the relevant requirements of the relevant laws and regulations. The issue price shall be not less than 80% of the average trading price of the shares over the 20 trading days before the price determination date.

All the shares issued in the transaction will be subjected to a hold period of six months from the date of closing. The transaction has been approved by the board of directors of the company at the 18th session of the 5th directorate meeting and 13th meeting of the 5th supervisory Board and is still subjected to the approval of China Securities Regulatory Commission and shareholders of the company at the 2020 first EGM and the 2020 second class meetings.