On June 30, 2020, Guang Dong Sitong Group Co.,Ltd (SHSE:603838) has closed the transaction. The company has issued 53,336,000 common shares at a price of CNY 6.25 for a total gross proceeds of CNY 333,350,000. The transaction included participation from six specific investors. The transaction included various issuance cost of CNY 5,569,546.73 and received net proceeds of CNY 327,780,453.27. The transaction has been reviewed and approved by the board of directors in 5th meeting of the 3rd board of supervisors. The transaction was approved by the China Securities Regulatory Commission.