Eastcompeace (Russia) Co., Ltd. announced a private placement of common shares for gross proceeds of RUB 100,000,000 on April 1, 2020. The transaction will involve participation from existing investors, Eastcompeace Technology Co.,ltd (SZSE:002017) for RUB 81,080,000 and individual investors, Krylova Olga and Shimolin Konstantin for RUB 18,920,000. Post-closing of the transaction, Eastcompeace Technology Co.,ltd (SZSE:002017) will continue to retain its stake of 81.08% and Krylova Olga and Shimolin Konstantin will jointly retain their stake of 18.92% in the company. The transaction has been approved by the board of directors of Eastcompeace Technology Co.,ltd (SZSE:002017) at its 22nd meeting of the 6th directorate and does not require approval of its shareholders.