Beijing Xiashang Technology Co., Ltd announced a private placement of 142,800 common shares at a price of CNY 70.03 per share for gross proceeds of CNY 10,000,284 on October 28, 2020. The transaction will include participation from new investor Beijing Quanshi World Online Network Information Co., Ltd. (SZSE:002995) for 71,400 shares, Zhao Jianguang for 35,400 shares, Beijing Fuquan Phase 1 Investment Fund Management Center (L.P.) a fund managed by Beijing Ruixing Fuquan Investment Management Co., Ltd. Beijing Jianyuan Honggeng Investment Management Partnership (Limited Partnership) a fund managed by Jianyuan Tianhua Investment Management (Beijing) Co., Ltd. Beijing Jianyuan Boyi Investment Management Partnership (Limited Partnership) and Beijing Jianyuan Xinbo Equity Investment Center (Limited Partnership) for 9,000 shares each. Post completion of the transaction, the capital of the company will increase from CNY 1,000,000 to CNY 1,142,800. The transaction has been approved in the thirteenth meeting of the second board of directors and the tenth meeting of the second board of supervisors of the investor. The transaction do not need to be submitted to the company's shareholders meeting for deliberation. After the transfer of equity and capital increase, T Beijing Quanshi World Online Network Information Co., Ltd will hold 9.892% of the equity of the target company.