Longmaster Information & Technology Co., Ltd. (SZSE:300288) announced a private placement of not more than 40,000,000 common shares issued at CNY 7.075 per share for gross proceeds of CNY 283,000,000 on March 31, 2020. The transaction will include participation from not more than 35 specific investors. Issuance price will be not lower than 80% of the median market price of the company’s shares as of 20 previous days of issuance date. The shares issued in the transaction are subject to a hold period of 6 months from the issuance date. The transaction was approved by the board of directors at the 1st meeting of the 4th directorate. The transaction is subject to the approval of the shareholders and the China Securities Regulatory Commission.