Lvjing Holding Co., Ltd. (SZSE:000502) announced that it has entered into share subscription agreement with returning individual investor Yu Feng for a private placement of not more than 55,445,882 common shares for gross proceeds of not more than CNY 326,576,300 on March 13, 2020. All shares to be issued will have a lock up period of 18 months from the date of issuance. The transaction has been approved in the sixth meeting of the eleventh board of directors of the company, and is subject to approval of shareholders and China Securities Regulation Commission.