Shandong Hiking International Co.,Ltd (SHSE:600735) announced a private placement of not more than 112,797,688 A shares for gross proceeds of up to CNY 360,000,000 on April 16, 2021. The transaction will include participation from not more than 35 specific investors. The transaction has been approved by the eighteenth meeting of the company's twelfth board of directors, and needs to be reviewed and approved by the company's shareholders meeting and the China Securities Regulatory Commission before implementation. The shares will have a lock up period of 6 months.