HangZhou Radical Energy Saving Technology Co., Ltd. announced a private placement of 26,400,000 A shares for gross proceeds of not more than CNY 400,000,000 on October 14, 2020. The issue price shall not be less than 80% of the average price of the company?s stocks on the 20 trading days before the pricing base date. The transaction will include participation from not more than 35 specific investors. The transaction has been approved by the board of directors of the company at its 22nd meeting of the second board of directors of the company, the 22nd meeting of the second board of supervisors. The transaction is subject to approval from company?s shareholders meeting, Shenzhen Stock Exchange and by the China Securities Regulatory Commission. All securities issued in the transaction have a hold period of six months.