Zhejiang Dingli Machinery Co., Ltd. announced a private placement of not more than 48,548,557 A shares for gross proceeds of up to CNY 1,500,000,000 on May 28, 2021. The transaction will include participation from not more than 35 investors. The issuance price will be not lower than 80% of the average price of the companys shares as of 20 trading days since issuance date. The company will issue not more than 10% of the total share capital prior to the transaction. The shares issues will have a hold period of 6 months from the date of closing. The transaction has been approved by the board of directors of the company at its 6th meeting of 4th Directorate and is subject to shareholder and China Securities Regulatory Commission approvals. The transaction has been approved by the board of directors of the company at its 5th meeting of 4th Supervisory Board.