Z-Obee Holdings Limited announced a private placement of 130,500,180 common shares at a price of HKD 1.248 for gross proceeds of HKD 162,864,224.64 on July 25, 2017. The transaction will include participation from new investor Alpha Professional Development Limited for 117,788,461 shares and the investor entered into a purchase agreement with the investor. The transaction will also include participation from new investor Tsinghua Tongfang Co.,Ltd. (SHSE:600100) for 12,711,719 shares.

Post the closing of the transaction, Tsinghua Tongfang Co.,Ltd. (SHSE:600100) will hold 5% and Alpha Professional Development Limited will hold 70% stake in the company. The completion of the transaction is subject to shareholder approval.