Winner Technology Co., Inc. (SZSE:300609) announced a private placement of not more than 20,180,400 common shares for gross proceeds that will not exceed CNY 1,000,000,000 on February 21, 2019. The transaction will involve not more than 5 specific investors. The company announced that the issuance price of the shares will be not lower than 90% of the median market price of its shares as of 20 previous days to issuance date. The shares to be issued in the transaction are subject to a lock up period of 12 months. The face value of the shares will be CNY 1 per share. The transaction was approved by the company at the 18th meeting of its 2nd directorate. The transaction is subject to approval from the shareholders of the company at its 2nd extraordinary general meeting of 2019 to be held on March 11, 2019 and China Securities Regulatory Commission.