Shenzhen Sangfor Investment Holding Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 20,000,000 with existing investor Sangfor Technologies Inc. (SZSE:300454) on October 30, 2018. Post the closing, the registered capital of the company will increase from CNY 30,000,000 to CNY 50,000,000 and the investor will maintain 100% stake in the company. The transaction was approved by the board of directors of the investor at the 22nd meeting of the 1st directorate. The company reported total assets of CNY 25,583,577.55, net assets of CNY 24,583,577.55, net assets of CNY 1,000,000, and net profit of CNY -5,476.61 for the year ended December 31, 2017.