Hubei Feilihua Quartz Glass Co.,Ltd (SZSE:300395) announced a private placement of not more than 59,923,800 shares for gross proceeds of not more than CNY 730,000,000 on December 5, 2018. The shares will be subscribed by not more than five independent investors. The issuance price will not be lower than 90% of the median market price of the company's shares as of 20 previous days to issuance date.

The transaction was approved by the 13th session of the 4th directorate meeting of the company and by the National Defense Science and Technology Bureau. The transaction is subject to the approval of the China Securities Regulatory Commission.