Jiangsu Yitong High-Tech Co., Ltd. (SZSE:300211) announced a private placement of not more than 60 million A shares of par value CNY 1 per share for gross proceeds of not more than 350 million on January 20, 2020. The transaction will include participation from not more than 5 specific investors. The transaction has been approved in the sixth meeting of the seventh session of the directorate of the company. The transaction is subject to approval in the shareholder's meeting of the company and approval of the China Securities Regulatory Commission. The securities to be issued are subject to a 12 months lock-up period.