Chongqing Jihai Shipping Co., Ltd announced that it will issue common shares for gross proceeds of CNY 21,685,300 on November 19, 2019. The transaction will include participation from returning investor Chongqing Gangjiu Co.,Ltd (SHSE:600279). Out of the total gross proceeds, CNY 21,428,600 will go to registered capital and CNY 256,700 to capital reserve. Post to the transaction, the registered capital of the company will increase from CNY 50,000,000 to CNY 71,428,600 and the investor will hold 65% stake in the company. The transaction has been approved in the 18th meeting of the 7th directorate of the investor and does not need the shareholders’ approval.