Jiangyin Hengrun Ring Forging Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 467,283,200 on May 20, 2017. The transaction will include participation from returning investor Jiangyin Hengrun Heavy Industries Co., Ltd (SHSE:603985) to retain its 100% stake in the company. Out of the total amount, CNY 200,000,000 will be added to the registered capital of the company and CNY 267,283,200 will be added to the capital reserve of the company. The transaction has been approved by the board of directors of the investor at its 11th meeting of the 2nd directorate and 8th meeting of the 2nd supervisory board. The transaction is subject to shareholders’ approval of the investor. The company has reported total assets of CNY 706,277,200, net assets of CNY 243,451,400, revenue of CNY 474,106,300, and net profit of CNY 96,138,400 for the year ended December 31, 2016.