Harbin Churin Group Jointstock Co., Ltd. (SHSE:600891) announced a private placement of not more than 122,298,147 class A shares for gross proceeds of not more than CNY 810,000,000 on June 3, 2018. The transaction will include participation from not more than ten designated investors. Pricing reference date will be the first day of issuance. Issue price for the shares to be issued in this private placement shall not be lower than 90% of the average stock price 20 trading days before the pricing reference date. The shares to be issued in this private placement will have a lock-up period of twelve months after issuance completion date. The transaction has been approved at the 9th directorate in company's 13th meeting and 9th supervisory board’s 10th meeting and is subject to its shareholder's approval and China Securities Regulatory Commission.