Kangyue Technology Co., Ltd. (SZSE:300391) announced a private placement of not more than 20,000,000 common shares for gross proceeds of not more than CNY 140,000,000 on March 9, 2021. The company will issue shares at a price not less than 80% of the average price in the 20 trading days before the pricing reference date. The transaction will include participation from not more than 35 investors. All shares to be issued cannot be transferred within 6 months from the date of closing. The transaction has been approved in the 12th meeting of the 4th directorate and 10th meeting of the 4th supervisory board of the company.