Shanxi Oriental Material Handling Co., Ltd. (SZSE:300486) announced that it has signed the subscription agreement to issue not more than 22,670,023 shares at issue price of CNY 19.85 per share for gross proceeds not exceeding CNY 449,999,957 on April 23, 2020. The transaction will include participation from returning investor, Shenzhen Elitimes Investment Co., Ltd. for 2,518,891 shares for gross proceeds of CNY 50,000,000, Liuyang Jingyang Private Equity Investment Partnership Enteprise (Limited Partnership) for 10,075,566 shares for gross proceeds of CNY 200,000,000, and Private investment fund managed by Elitimes Equity Investment Management Co., Ltd. for 10,075,566 shares for gross proceeds of CNY 200,000,000. The shares issued in the transaction is subject to a hold period of 18 months from the closing of the transaction. The transaction has been approved at the twelfth meeting of the seventh board of directors. The transaction still needs to be approved by the shareholders of the company and the China Securities Regulatory Commission.