Hamaton Automotive Technology Co.,Ltd. announced a private placement of not more than 30,000,000 A shares for gross proceeds of up to CNY 309,632,300 on May 6, 2020. The transaction will include participation from not more than 35 investors. The transaction got approved by the 14th meeting of the second session of the company's board of directors. The transaction is subject to approval from company's shareholders’ meeting and China Securities Regulatory Commission. The securities to be issued in the transaction are subject to a six month hold period. On May 7, 2020, the company announced that the transaction is subject to shareholders’ approval in an annual general meeting on May 18, 2020.