Tianjin HYLT Aviation Science & Technology Co., Ltd. announced a private placement of 7,000,000 common shares at a price of CNY 5.6 per share for gross proceeds of CNY 39,200,000 with existing investor Wisesoft Co., Ltd. (SZSE:002253) on March 21, 2019. Post the closing, the company will hold 20.52% stake in the company. The transaction was approved by the board of directors of the investor at the 12th meeting of the sixth directorate and does not need shareholders approval.