China Shipbuilding Industry Co., Ltd. (SHSE:601989) announced a private placement of 2,208,000,000 A shares at a price not less than CNY 3.84 per share for gross proceeds of CNY 8,480,000,000 on September 10, 2013. The transaction will include participation from 10 designated investors including Dalian Ship Building Industry Co., Ltd. and Wuchang Shipbuilding Industry Co., Ltd. The shares to be subscribed by Dalian Ship Building Industry Co., Ltd. and Wuchang Shipbuilding Industry Co., Ltd. have a lock-up period of 36 months from the end of the issuance. Shares to be subscribed by other investors will have a lock-up period of 12 months from the end of the issuance. The transaction was approved at 21st session of 2nd directorate meeting and 19th session of the 2nd board of supervisors meeting of the company. This private placement is subject to approval from the State-owned Assets Supervision and Administration Commission, the stockholders of the company and the China Securities Regulatory Commission. The company received approval from the board for the transaction.

On September 23, 2013, the company announced that the National Competent Authority of Science, Technology and Industry for National Defense approved the transaction.

On October 10, 2013, the company announced that it has received approval from the State-owned Assets Supervision and Administration Commission for the transaction.

On October 18, 2013, the company announced that the transaction has been approved at the 1st special stockholders' meeting of 2013 of the company. Haitong Securities Co., Ltd. will act as the sponsor for the company.

On December 20, 2013, the company announced that Issuance Examination Committee of China Securities Regulatory Commission approved the transaction.

On January 8, 2013, the company announced that it has received approval from China Securities Regulatory Commission for the transaction.

On January 21, 2014, the company announced that Shanghai Certified Public Accountants will act as accountant to the company. Haitong Securities Co., Ltd. will transfer the total subscription amount of CNY 8,319,999,999.80 received after deducting the underwriting sponsor fees of CNY 160,000,000.

On January 22, 2014, the company announced that Ruihua Certified Public Accountants (Special General Partnership) will act as accountant to the company.

On January 24, 2014, China Shipbuilding Industry Co., Ltd. closed the transaction. The company issued 2,019,047,619 shares at a price of CNY 4.20 per share for gross proceeds of CNY 8,479,999,999.80.The net proceeds from the transaction were CNY 8,316,085,095.04, after deducting expenses of CNY 163,914,904.76, including underwriting and sponsorship fees, legal fees, information disclosure fees, share registration fees and other expenses. China Life Insurance Assets Management Co., Ltd. invested CNY 1,267,000,022.40, ICBC Credit Suisse Asset Management Co., Ltd. invested CNY 1,179,999,996, Caitong Fund Management Co., Ltd. invested CNY 940,999,999.80, Shanghai Pudong Science and Technology Investment Co., Ltd. and Changsheng Fund Management Co., Ltd invested CNY 849,999,998.40 each, New China Life Insurance Co., Ltd.(Group Dividend), Pacific Asset Management Co., Ltd, Dalian Shipbuilding Plant Group Co., Ltd., and Wuchang Shipyard Group Co., Ltd. invested CNY 847,999,996.20 each. After the transaction, China Shipbuilding Industry Corporation decreased its stake in the company from 51.90% to 45.91%.