Qingdao TGOOD Electric Co., Ltd. (SZSE:300001) announced a private placement of not more than 299,271,022 common shares for gross proceeds of no more than CNY 1,000,000,000 on September 3, 2020. The company will issue shares at a price of not lower than 80% of the median market price of the company’s shares as of 20 previous days to issuance date. The transaction will include participation from no more than 35 specific investors. The transaction has been approved by the board of directors of the company at its 16th meeting of the fourth board of directors. The transaction is subject to approval from company’s shareholders meeting and submitted to the Shenzhen Stock Exchange for review and approval and registration with the China Securities Regulatory Commission. The shares to be issued are subject to a hold period of 6 months from the date of issuance.