Anhui Guofeng Plastic Industry Co., Ltd. (SZSE:000859) announced a private placement of not more than 221,834,919 Class A common shares for gross proceeds of not more than CNY 900,000,000 on April 2, 2020. The company will issue shares at a price not lower than 80% of the average stock price 20 trading days before the first day of issuance. The transaction will include participation from not more than 35 investors, including returning investor Hefei Industrial Investment Holding Co., Ltd. for not less than CNY 250,000,000. The shares to be subscribed by Hefei Industrial Investment Holding Co., Ltd. will be subject to a lock up period of 18 months if its stake does not exceed 30% post closing, and 36 months if its stake exceeds 30% post closing. The shares to be subscribed by other investors will be subject to a lock up period of 6 months. The transaction has been approved in the 34th meeting of the 6th directorate of the company, and is subject to approval from the relevant State-Owned Assets Supervision and Administration Commission department, company’s shareholders, and China Securities Regulatory Commission. On June 19, 2020, the company announced that the transaction has been accepted by China Securities Regulatory Commission. The transaction is still subject to approval of China Securities Regulatory Commission. On August 24, 2020, the company announced that the private placement application has been reviewed and approved by the Issuance Examination Committee of China Securities Regulatory Commission.