Shenzhen Coship Electronics Co., Ltd. announced a private placement of does not exceed 223,787,908 shares at a price of CNY 1.54 per share for gross proceeds of does not exceed CNY 344,633,378.32 on August 20, 2021. The transact will include participation from new investor Fujian Tengxu Industrial Co., Ltd. for 28.05% stake. The company will issue share at par value of CNY 1 each. The company signed a conditional effective stock subscription agreement" with investor. The lock-up period is 18 months. The resolution for the private placement of shares is valid for 12 months from the date of deliberation and approval by the shareholders' meeting. The transaction has been approved by board of director of company at the 5th meeting of the 6th directorate and are subject to the approval of the company's shareholders meeting and the China Securities Regulatory Commission.