Shanghai RFID smart label system technology co., LTD. announced a private placement of 1,648,805 shares for gross proceeds of CNY 20,000,000 on August 27, 2020. The transaction will include participation from new investor DuZhe Publish&Media Co.,Ltd (SHSE:603999) for 2,30% stake. Post-closing, the registered capital of the company company will increase from CNY 68,437,300 to CNY 71,586,100. The transaction has been approved by board of director of DuZhe Publish&Media Co.,Ltd (SHSE:603999) in its fifth meeting of the fourth directorate and It does not need to be submitted to the general meeting of shareholders.