Inner Mongolia Tianshou Technology and Development Co., Ltd. (SZSE:000611) announced a private placement of not more than 64,364,404 A shares for gross proceeds of not more than CNY 1,412,180,700 on August 24, 2018. The transaction will involve participation from Shulan City Tianshou Liyuan Industrial Co., Ltd for 50,364,404 shares, Xiangning County Hongji Building Material Co., Ltd for 8,000,000 shares, and individual investor Gao Mingzhe for 6,000,000 shares. The shares to be issued in the transaction will be subject to a lock-up period of 36 months. The transaction is subject to approval from the China Securities Regulatory Commission. The transaction has been approved by the board of directors of the company at the 23rd meeting of its 8th directorate. The transaction is subject to approval from the shareholders of the company.