Shenyang Machine Tool Co., Ltd. announced a private placement to issue A shares in October 20, 2023. The company will issue common shares to not more than 35 specific investors. All securities issued in connection with the transaction will be subject to a 6-month lockup period.

The transaction has been approved by the company?s 10th directorate during its third meeting, and also has been in-principle approved by the company?s controlling shareholder. The transaction is subject to the approvals of the company?s board of directors, company?s shareholders, the Shenzhen Stock Exchange, the China Securities Regulatory Commission, and any other approvals as may be required by the law.