Shandong Tai’an Xinhua Printing Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 24,300,000 on January 9, 2018. As a part of the round, CNY 10,000,000 will be added as paid-in capital and CNY 14,300,000 as capital reserve. The transaction will include participation from existing investor Shandong Publishing&Media Co.,Ltd (SHSE:601019). Post the closing, the investor will maintain 100% stake in the company. The transaction was approved at the 22nd session of the 2nd directorate and the 13th session of the 2nd supervisory board of the investor.