TVZone Media Co., Ltd. (SHSE:603721) announced a private placement of not more than 20,247,932 shares at a price of CNY 24.20 per share for gross proceeds of not more than CNY 489,999,954 on March 9, 2020. The transaction will include participation from Shenzhen Yuntu Asset Management Service Co., Ltd. for 6,611,570 shares for proceeds of CNY 159,999,994, Founder Fubon Fund Management Co., Ltd for 6,611,570 shares for proceeds of CNY 159,999,994, Shenzhen Qianhai Wufeng Fund Management Co., Ltd. for 3,719,008 shares for proceeds of CNY 89,999,993.6, Great Wall Fund Management Co. Ltd. for 2,066,115 shares for proceeds of CNY 49,999,983 and Zhuhai Huachangsheng Investment Fund Management Partnership (Limited Partnership) for 1,239,669 shares for proceeds of CNY 29,999,989.8. The transaction has been approved at the third meeting of the third directorate of the company and is still subject to approval of Hunan Provincial Cultural and Assets Commission, shareholders of the company, and China Securities Regulatory Commission.