Haimo Technologies Group Corp. (SZSE:300084) announced that it has signed a conditionally effective share subscription agreement with Gansu China Development Investment Co., Ltd. for a private placement of not more than 115,429,721 A shares of par value CNY 1 per share at a price of CNY 3.68 per share for gross proceeds of not more than CNY 424,781,373 on August 28, 2020. All shares to be issued will be subject to a lock up period of 18 months from the issuance date. The transaction has been approved in the 26th meeting of the 6th board of directors and the 15th meeting of the 6th board of supervisors of the company, and is subject to approval of the state-owned assets authority, shareholders of the company, Shenzhen Stock Exchange, and China Securities Regulatory Commission.