Zhe Jiang Dali Technology Co.,Ltd (SZSE:002214) announced that it will issue 137,599,999 common shares for a total gross proceeds of up to CNY 970,000,000 on June 30, 2020. The transaction included participation from 35 specific investors. The issue price will not be lower than 80% of the median market price from 20 pervious days to issuance. The transaction has been approved in 17th meeting of the 5th board of directors and is still subject to approval of shareholders' in a meeting and China Securities Regulatory Commission. The shares will subject to a lock-up period of six months.