Beijing New Universal Science and Technology Co., Ltd. (SZSE:300472) announced a private placement of common shares for gross proceeds of not more than CNY 370,334,600 to not more than 5 specific investors on June 8, 2017. The issue price shall not be lower than the average stock price of the company for the day prior to the first date of this issuance or the issue price will be lower than the average stock price of the company for 20 trading days prior to the first date of this issuance but shall not be lower than 90% of it, or the issue price will be lower than the average stock price of the company for the day prior to the first date of this issuance but shall not be lower than 90% of it. The securities are subject to a hold period of 12 months from the date of closing. The transaction is approved by the company at the 20th session of its 2nd directorate and needs approval from China Securities Regulatory Commission.