Y.U.D.Yangtze River Investment Industry Co.,Ltd. (SHSE:600119) announced a private placement of up to 57,870,370 common shares at an issue price of up to CNY 4.32 per share for gross proceeds of up to CNY 249,999,998 on May 18, 2020. The transaction will involve participation from existing investor, Yangtze River Economy United Development (Group) Co., Ltd. The shares issued in the transaction will have a hold period of 36 months from the date of issuance. The transaction has been approved at the 12th meeting of the 7th reunion of supervisors and twenty-fourth meeting of the seventh board of directors of the company. The transaction still needs to be reviewed and approved by the company's shareholders' meeting.