Anhui Shenjian New Materials Co.,Ltd (SZSE:002361) announced a private placement of not more than 251,272,234 shares for gross proceeds of not more than CNY 650,000,000 on October 14, 2020. The transaction will not include participation from more than 35 investors, including securities investment fund management companies, securities companies, trust and investment companies, financial companies, insurance institutional investors, qualified foreign institutional investors, and others Legal persons, natural persons or other institutional investors in compliance with laws and regulations. The shares subscribed shall not be transferred within 6 months from the date of the end of the non-public issuance.

The transaction has been approved at the company's fifth (temporary) meeting of the fifth board of directors, and is subject to approval of the company's shareholders meeting and the approval of the China Securities Regulatory Commission.