Jinfengfu (Chuzhou) Conveying Machinery Co., Ltd. announced a private placement of approximately 677,323 common shares at an issue price of CNY 73.82 per share for gross proceeds of CNY 50,000,000 on December 28, 2020. The company has signed capital increase and share expansion agreement with the investor. The transaction will involve participation from AA Industrial Belting (Shanghai) Co.,Ltd (SHSE:603580). The transaction has been approved by the board of directors of the investor at its 14th meeting of the 3rd board of directors.