Jincheng Bank Co., Ltd. announced a private placement of 271,000,000 shares at CNY 1.8808 per share for gross proceeds of CNY 509,696,800 on March 24, 2017. The transaction will include participation from existing investor Wintime Energy Co.,Ltd. (SHSE:600157) on March 25, 2017. Pursuant to the transaction, the investor’s stake in the company will increase from 4.1672% to 11.955%. The transaction has been approved at 10th directorate’s 7th session of the investor. The transaction is subject to approval from the China Banking Regulatory Commission.