Hangzhou Xishi Technology Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 25,150,000 on December 11, 2017. The transaction will involve participation from existing investor Shanghai AtHub Co.,Ltd. (SHSE:603881). Post the closing of the transaction, the investor will continue to retain its 100% stake in the company. The transaction has been approved by the investor at its 2nd directorate's 5th meeting. The company reported total assets of CNY 67,067,500, net assets of CNY 64,159,400, revenue of CNY 0, and net profit of CNY -734,500 for the year ended December 31, 2016.