Foshan Shunde Water Industry Holding Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 75 million on March 29, 2021. The transaction will include participation from returning investor Guangdong Shunkong Development Co. Ltd. (SZSE:003039). As a result, company's paid-in capital will increase from CNY 200 million to CNY 275 million and investor will continue to hold 100% stake in the company. The transaction has been reviewed and approved at the 22nd meeting of the second board of directors of the investor.