Shandong Weida Machinery Co., Ltd. announced a private placement of not more than 21,891,459 A shares at a price of CNY 9.18 per share which is not less than 80% of the average price of the company’s stock during 20 trading days before the pricing base date for gross proceeds of not exceeding CNY 200,963,600 on December 15, 2020. The transaction will include participation from returning investor Shandong Weida Group Co., Ltd. The shares to be issued pursuant to the transaction are subject to hold period of 36 months from the date of issuance. The investor has signed conditional effective share subscription agreement with the company. The transaction has been approved by the 14th extraordinary meeting of the 8th board of directors of the company, and is subject to approval of company's shareholders meeting and the China Securities Regulatory Commission.