Xinjiang East Universe (Group) Gas Co., Ltd. (SHSE:603706) announced a private placement of up to 34,682,538 A shares at a price of up to CNY 12.60 per share for the gross proceeds of up to CNY 436,999,978.8 on April 9, 2020. The transaction will include participation from Li Ming for 9,546,031 for the gross proceeds of CNY 120,280,000, Li Weiwei for 5,555,555 shares for gross proceeds of CNY 70,000,000, Xinjiang Dongfang Huanyu Investment (Group) Co., Ltd. for 13,231,746 shares for the gross proceeds of CNY 166,720,000 and new investor Yili Renhe Real Estate Development (Group) Co., Ltd. for 6,349,206 shares for the gross proceeds of CNY 80,000,000. The transaction has been approved in 13th meeting of the 2nd session of the supervisory committee. The pricing base date of the shares is the announcement date of the resolution of the 13th meeting of the 2nd board of directors and board of supervisors of the company, and the issue price is not less than 80% of the average price of the company's stock transactions 20 trading days before the pricing base date. The A shares shall not be transferred within 18 months from the date closing of the transaction. The transaction is subject to approval of shareholders in 1st special shareholders' meeting of 2020 to be held on April 27, 2020.