CSG Smart Science & Technology Co., Ltd. (SZSE:300222) announced a private placement of not more than 144,752,418 A shares for gross proceeds of up to CNY 625,800,000 on September 25, 2020. The transaction will include participation from not more than 35 investors. The shares cannot be transferred within 6 months from the issuance closing date.

The transaction has been approved at the company's 14th meeting of the 4th directorate and is subject to the approvals of the shareholders meeting, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.