Hong Kong Alpha Group Limited announced a private placement of common shares for gross proceeds of not more than CNY 265,000,000 on September 25, 2017. The transaction will involve participation from returning investor Alpha Group (SZSE:002292). Post the closing of the transaction, the investor will retain its 100% stake in the company and the registered capital will increase from CNY 1,585,376,600 to not more than CNY 1,850,000,000. The transaction has been approved at the 17th meeting of 4th directorate of the investor, and does not need approval from its shareholders. The company reported total assets of CNY 1,862,187,500, total liabilities of CNY 855,274,700, net assets of CNY 1,006,912,900, revenue of CNY 780,080,800, total profit of CNY 100,733,200, and net income of CNY 79,175,900 for the year ended December 31, 2016.