Nantong Tianyang New Materials Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 110,000,000 on April 11, 2018. The transaction will involve participation from returning investor Shanghai Tianyang Hot Melt Adhesives Co., Ltd. (SHSE:603330). Post the closing of the transaction, the registered capital will increase from CNY 90,000,000 to CNY 200,000,000 and the investor will continue to hold 100% stake in the company. The transaction was approved by the investor in the 14th session of its 2nd directorate and does not need approval from its shareholders’ meeting. The company reported total assets of CNY 1,744,362,125,800, net assets of CNY 834,955,615,600, and net loss of CNY 11,812,500 for the year ended December 31, 2017.