Shenzhen Textile (Holdings) Co., Ltd. announced a private placement of A shares on December 30, 2022. The shares have a par value of CNY 1 oer share. The transaction will include participation from not more than 35 qualified specific investors.

The transaction has been approved at nineteenth meeting of the eighth session of the board of directors of the company, and is still subject to approval of general meeting of shareholders and the China Securities Regulatory Commission. The shares to be issued will have a lock up period of 6 months.