Lanzhou Haimo Technologies Co., Ltd. (SZSE:300084) announced a private placement of 10,000,000 shares at a price of CNY 14 per share for gross proceeds of CNY 140,000,000 on May 22, 2014. The transaction will include participation from maximum of five specific investors. The transaction has been approved at the 29th meeting of the 4th board of directors of the company.

On June 4, 2014, the company announced that the transaction has been approved at the 30th meeting of the 4th board of directors of the company. The transaction is subject to the approval of its shareholders' meeting of the transaction's official program and the approval of the working meeting of the Merger, Acquisition and Reorganization Examination Committee for Listed Companies of China Securities Regulatory Commission, and the written approval of the China Securities Regulatory Commission. Sinolink Securities Co., Ltd. will act as an independent financial advisor to the company. Llinks Law Offices will act as a legal advisor to the company. Ruihua Certified Public Accountants (Special General Partnership) will act as an audit agency to the company.

On June 23, 2014, the company announced that the transaction was approved by the shareholders at the 2nd extraordinary shareholders meeting of 2014.

On October 16, 2014, the company announced that it has received reply on the approval of the transaction from China Securities Regulatory Commission.