Zhengzhou Mingtai Industry Co.,Ltd announced a private placement of shares for gross proceeds of CNY 20,000,000 with returning investor Henan Mingtai Al.Industrial Co.,Ltd. (SHSE:601677) on July 13, 2017. Post the closing the registered capital of the company will increase from 70,000,000 to 90,000,000 and the stake of the investor will increase from 75% to 80.56% in the company. The transaction has been approved in the 16th meeting of 4th directorate of the investor and is not subject to shareholders’ approval of the investor. The company reported total assets of CNY 1,169,333,600, total liabilities of CNY 617,248,600, net assets of CNY 552,085,100, revenue of CNY 2,864,149,800, and net profit of CNY 77,379,400 for the year ended December 31, 2016.