Huizhou TVT Digital Technology Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 278,200,000 on December 28, 2016. The transaction will include participation from returning investor Shenzhen TVT Digital Technology Co., Ltd. (SZSE:002835) to retain its 100% stake in the company. Out of the total amount, CNY 25,000,000 will be added towards registered capital and CNY 253,200,000 will be added towards the capital reserve of the company. The registered capital of the company will increase from CNY 15,000,000 to CNY 40,000,000. The transaction has been approved by the board of directors of the investor at its 9th meeting of its 2nd directorate. The company has reported total assets of CNY 61,095,900, net assets of CNY 12,940,400, and net loss of CNY 531,800 for the year ended December 31, 2015.