XGD Inc. (SZSE:300130) announced a private placement of not more than 89,078,232 A shares at a price of CNY 12.91 per share for gross proceeds of up to CNY 1,149,999,975.12 on March 27, 2020. The transaction will include participation from individual investors Liu Xiang for 34,856,700 shares for gross proceeds of CNY 449,999,997, Wang Wenbin for 27,110,766 shares for gross proceeds of CNY 349,999,989.06 and Pu Weijie for 27,110,766 shares for gross proceeds of CNY 349,999,989.06. The transaction has been approved in the 44th meeting of the 4th directorate and 41st meeting of the 4th supervisory board of the company and is still subject to approval from shareholders of the company and China Securities Regulatory Commission. The shares are subject to lock-up period of 18 months from the date of issuance.