Wuhan Sanzhen Industry Holding Co. Ltd. (SHSE:600168) announced a private placement of up to 123,692,800 A shares at a price of not less than CNY 6.01 per share for gross proceeds of up to CNY 743,333,300 on March 19, 2013. The transaction will include participation from up to seven investors.

On April 26, 2012, the company announced that it will issue 127,090,300 shares for gross proceeds of up to CNY 759,999,994 on April 26, 2012. The shares will be issued to not more than 10 specific investors. The shares will be issued at a price not be lower than 90% of the average stock price 20 transaction days before the price base date. The adjusted issue price is CNY 5.98 per share. The final issue price will be determined after the approval of the China Securities Regulatory Commission. The transaction is subject to shareholders' approval. The company has received approval in its 17th session of the 5th directorate meeting.

On June 1, 2012, the company announced that it has approved the transaction in its 1st special shareholders' meeting of 2012.

On May 7, 2013, the company announced that it has amended the terms of the transaction. The company has adjusted the price of the transaction.

On May 13, 2013, the company announced that it has approved the proposal of extending validity term of the transaction for six months and the proposal of requesting shareholders' meeting to extend validity term of authorizing directorate to handle relevant issues of related to the transaction for one year in its 3rd session of the 6th directorate meeting. The company will hold its 3rd special shareholders' meeting of 2013 on May 31, 2013.

On May 31, 2013, the company announced that it has approved the proposals in its 3rd special shareholders' meeting of 2013.

On July 24, 2013, the company announced that it has amended the terms of the transaction. The company will now issue 123,731,100 A shares at a price of not less than CNY 5.95 per share for gross proceeds of up to CNY 760,000,000. On the same date, the company received approval from China Securities Regulatory Commission for the transaction upon verification.

On October 30, 2013, Wuhan Sanzhen Industry Holding Co. Ltd. closed the transaction. The company issued 127,731,092 A-shares at CNY 5.95 per share for gross proceeds of CNY 759,999,997.4. The transaction included participation from Jiangxin Fund Management Co., Ltd., which invested CNY 99,960,000, CGN Finance Co., Ltd., which invested CNY 77,350,000, Taikang Asset Management Co., Ltd, invested CNY 86,275,000, ICBC Credit Suisse Asset Management Co., Ltd., which invested CNY 283,815,000, and Beijing Origin Water Technology Co.,Ltd, which invested CNY 212,599,997.40. Beijing Origin Water Technology Co.,Ltd, acquired 5.04% stake in the company through this transaction. The net proceeds from the transaction were CNY 749,051,997.40. The shares issued to the investors have lock in period of 12 months. Shenyin & Wanguo Securities Co., Ltd. acted as the lead underwriter, sponsor, and independent financial advisor, Union Power CPAs Co., Ltd. acted as accountant and Hubei Higher Law Firm acted as legal advisor to the company.