Jiangsu Huasheng Tianlong Photoelectric Co., Ltd. (SZSE:300029) announced private placement of common shares not exceeding 48,000,000 shares of class A at issue price of CNY 4.37 per share for gross proceeds of not more than CNY 209,760,000 on January 10, 2021. The transaction will include participation from returning investor, DAYOU HOLDINGS CO.,Ltd. The investor will hold 29.68% stake in the company post closing of the transaction. The transaction has been approved at the 31st meeting of the fourth board of directors. The transaction still needs to be approved by the shareholders of the company at the general meeting, Shenzhen Stock Exchange, and China Securities Regulatory Commission. The shares to be issued in the transaction shall have a hold period of 18 months from the closing of the transaction.