Zhejiang Orient Financial Holdings Group Co., Ltd announced a private placement of up to 535,713,199 A shares for gross proceeds of not more than CNY 2,927,428,500 on January 19, 2021. The transaction will include participation from not more than 35 specific investors. The issuance price will be not lower than 80% of the average price of the company’s shares as of 20 trading days since issuance date. The transaction was approved by the board of directors of the company at its third meeting of the ninth directorate, approved by shareholders and China Securities Regulatory Commission.