Xinjiang Baihuacun Co., Ltd. (SHSE:600721) announced a private placement of A shares for a price of CNY 3.82 per share for a gross proceeds of not more than CNY 429,904,000 on June 8, 2020. The transaction involve participation from 35 specific investors including the company’s controlling shareholder, wholly-owned subsidiary Xinjiang Hualing International Medical Industry Development Co., Ltd. subscribing for not more than 64,260,500 shares for an amount not exceeding CNY 245,475,200, Guangxi Jinlan Investment Management Center (Limited Partnership) subscribing for not more than 24,139,900 shares for an amount not exceeding CNY 92,214,400 and Fusi Asset Management (Beijing) Co., Ltd subscribing for not more than 24,139,900 shares for an amount not exceeding CNY 92,214,400. The company will adjust the offer price if the company's stocks have dividends, dividends, capital accumulation funds converted into share capital and other ex-rights and ex-dividends during the period. The final number of shares will be determine by the company’s board of directors in accordance with the authorization of the general meeting of shareholders after obtaining the approval of the China Securities Regulatory Commission. The shares are non-transferable for 18 months from the date of issuance. The share will be tradable on stock exchange after the completion of lock-up period. The validity period of the issuance is 12 months from the date of approval. The transaction was approved by its board in the 10th meeting of the 7th supervisory committee and is subject to approval of shareholders at the 2nd special shareholders' Meeting of 2020 to be held on June 24, 2020 and China Securities Regulatory Commission..