Qijing Machinery Co., Ltd. (SHSE:603677) announced a private placement of not more than 38,759,191 A shares for gross proceeds of not more than CNY 369,500,000 from not more than 10 specific investors on July 3, 2019. The transaction has been approved at the 33rd meeting of the 2nd directorate of the company. The transaction is subject to approval of shareholders of the company at its 2nd special shareholder's meeting of 2019 to be held on July 26, 2019.