Dalian Zhiyun Automation Co., Ltd. (SZSE:300097) announced a private placement of common shares for gross proceeds of No more than CNY 688,547,900 on December 21, 2020. The number of shares issued to specific objects will be determined by dividing the total amount of funds raised by the issuance price and will not exceed 30% of the company's total share capital before the issuance. The transaction will include participation from No more than 35 specific investors. The transaction has been approved by the board of directors of the company at its eighth interim meeting of the company's fifth directorate. and is subject to approval from its shareholders’ and China securities regulatory commission. The transaction still needs to be submitted to the Shenzhen Stock Exchange for review and approval. The shares issued are subject to a hold period of 6 months from the date of issuance.