San Bian Science & Technology Co., Ltd. (SZSE:002112) announced a private placement of 164,924,618 A shares at CNY 13.93 per share for gross proceeds of CNY 2,297,400,000 on January 17, 2016. The transaction will include participation from 10 specific investors including Xinyu Zhengde Asset Management Center (Limited Partnership), Gu Xiujuan, Huaqi Shengshi Dingzeng Phase 1 Fund, Zhong'ou Shengshi Jingxin No. 10 Asset Management Plan, Liao Zhenlong, Yimu Dingzeng Kaixuan No.

2 Fund, Cheng Zhongliang, Zhu Feng, Dai Haiyong, and Shanghai Juntong Xujing Investment Partnership (Limited Partnership) for 64,608,758 shares, 22,526,920 shares, 21,392,677 shares, 17,587,939 shares, 16,051,687 shares, 6,963,388 shares, 5,743,000 shares, 3,589,375 shares, 3,230,437 shares, and 3,230,437 shares respectively. The company and the investors entered into a share subscription agreement on the same date for the transaction. The shares issued as part of the transaction will have a hold period of 36 months from the date of issue.

The transaction was approved at the 11th meeting of the 5th board of directors of the company. The transaction is further subject to a second board approval, the approval of the shareholders of the company, and the approval from the China Securities Regulatory Commission.