Ocean's King Lighting Science & Technology Co., Ltd. (SZSE:002724) announced a private placement of class A common shares for not more than gross proceeds of CNY 135,660,000 on September 6, 2019. The price of the shares issued shall not be lower than 90% of the average stock price 20 trading days before the pricing reference date. The transaction will include not more than 10 designated investors. The shares issued in the transaction have a face value of CNY 1 per share. The shares will have a lock-up period of 12 months after issuance of completion date. The transaction was approved by board of directors at 4th directorate of the 4th special meeting of 2019 and from internal decision-making bodies of Shenzhen Mingzhihui Construction Engineering Co., Ltd. and Shenzhen Laimeng Construction Partnership Enterprise (Limited Partnership). The transaction is subject to approval from shareholders of the company and from China Securities Regulatory Commission.