Guangdong Orient Zirconic Ind Sci & Tech Co., Ltd. (SZSE:002167) announced a private placement of not more than 165,000,000 shares at a price of CNY 4.84 per share for gross proceeds of not more than CNY 798,600,000 on April 13, 2020. The company signed subscription agreements with investors, Guangdong Zhengying Intelligent Technology Co., Ltd for 30,000,000 shares for CNY 145,200,000, returning investor, Lomon Billions Group Co., Ltd (SZSE:002601) for 85,000,000 shares for CNY 411,400,000, individual investors, Feng Liming for 26,000,000 shares for CNY 125,840,000, Huang Chaohua for 4,000,000 shares for CNY 19,360,000, and Tan Ruowen for 20,000,000 shares for CNY 96,800,000. The lock up period of shares is 18 months.

The shares issuance is directed at not more than 5 specific investors. The transaction was approved at the 5th meeting of the 7th directorate of the company. The transaction is subject to approval from the company's shareholders' meeting and by China Securities Regulatory Commission.

The transaction has been approved in the 29th session of Lomon Billions Group Co., Ltd (SZSE:002601) 6th directorate meeting.