Guanghe Landscape Culture Communication Co., Ltd. announced that it has entered into a share purchase agreement for private placement of not more than 60,075,093 A shares at a price of CNY 7.99 per share for gross proceeds of not more than CNY 479,999,993.07 on August 11, 2020. The transaction will include participation from Shenzhen Kexin Industrial Holdings Co., Ltd and shares issued shall not exceed 30% of the company's total share capital. The transaction has been approved at the company's 12th extraordinary meeting of the eight session of board of directors and seventh extraordinary meeting of the eighth board of supervisors, and still need to be approved by company’s general meeting of shareholders and China Securities Regulatory Commission. The shares shall not be transferred within 36 months from the date of the end of the offering. On September 8, 2020, the company's directorate announced that it will hold 1st special shareholders' meeting of 2020 on September 24, 2020 for the transaction.