Zhejiang Cfmoto Power Co.,Ltd (SHSE:603129) announced a private placement of A-shares for not more than 30% of total share capital (134,377,300 shares) i.e. 40,313,190 shares for gross proceeds of not more than CNY 1,727,008,200 on March 15, 2021.The transaction was approved at the 22nd meeting of the 4th board of directors of the company. The transaction is subject to shareholders' approval and approval from China Securities Regulatory Commission. The shares shall not be transferred within six months from the end of the issuance. The total number of investors in this deal shall not exceed 35 in number. The issue price shall not go lower than 80% of the average price of the shares of the company 20 trading days prior to the first day of issuance.