Sichuan Yahua Industrial Group Co., Ltd. (SZSE:002497) announced private placement of not more than 287,000,000 A shares for gross proceeds of not more than CNY 1,500,000,000 to not more than 35 investors on April 30, 2020. The issue price of this issue is not lower than 80% of the average price of stock transactions 20 trading days before the pricing base date. The shares are subject to lock-in period of 6 months from issuance.

The transaction has been approved by the 15th meeting of 4th directorate of the company. The transaction is subject to approval of shareholders of the company at its 1st extraordinary general meeting of 2020 to be held on May 18, 2020 and the China Securities Regulatory Commission.