C&S (Yunfu) Paper Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 518,000,000 in a round of funding on December 5, 2019. The transaction will include participation from returning investor C&S Paper Co.,Ltd (SZSE:002511) to retain 100% stake in the company. Post the closing, the registered capital of the company will increase from CNY 132,000,000 to CNY 650,000,000. The transaction has been approved in the 4th directorate in its 19th meeting of the investor and is subject to shareholder's approval of the investor.