Jilin Jinguan Electric Co., Ltd. (SZSE:300510) announced a private placement for maximum of 264,865,495 common shares for gross proceeds of up to CNY 1,000,000,000 on September 30, 2020. The transaction includes participation from 35 investors including returning investor Luoyang Gudu Asset Management Co., Ltd. with not less than CNY 100 million to participate in the transaction. The transaction is subject to approval of shareholders at general meeting, Shenzhen Stock Exchange approval and China Securities Regulatory Commission. The shares subscribed by the controlling shareholder shall not be transferred within 18 months and subscribed by other specific objects shall not be transferred within 6 months from the date of the end of this issue.