GI Technologies Group Co., LTD. (SZSE:300309) announced that it has entered into a share subscription agreement for a private placement of 265,800,000 A shares at an issue price of CNY 2.06 per share for gross proceeds of CNY 547,548,000 on May 25, 2021. The transaction will include participation from Shanghai Guxu Industrial Partnership Enterprise (Limited Partnership) for 210,300,000 shares for CNY 433,218,000 and Yao Qing for 55,500,000 shares for CNY 114,330,000. The shares cannot be transferred within 18 months from the issuance closing date. Transaction has been approved in the 16th Meeting of the Company's 4th Directorate and the 7th Meeting of the 4th Supervisory Board and is subject to the approvals of the Shareholders and the China Securities Regulatory Commission.