Fujian Furi Electronics Co.,Ltd (SHSE:600203) announced a private placement of not more than 110,126,580 A shares at a price of CNY 5.53 per share for gross proceeds of not more than CNY 608,999,987 on March 1, 2020. The transaction will involve participation from existing investor Fujian Electronics & Information (Group) Co.,Ltd for 48,643,761 shares, Huaye Fanglue No. 1 Private Equity Investment Fund, a fund managed by Shenzhen Hengxin Huaye Equity Investment Fund Management Co., Ltd. for 27,124,773 shares, individual investors, Yu Yong for 18,083,182 shares and Wu Hao for 16,274,864 shares. The shares to be issued in the transaction will have a hold period of 18 months from the date of issuance. The transaction has been approved in the second interim meeting of the sixth board of directors of the company, and is subject to approval of China Securities Regulatory Commission and the shareholders of the company.